Paramount is expected to announce a deal to buy The Free Press as early as Monday, uniting the storied CBS News division with an upstart digital publisher that has positioned itself as an alternative to old-line media institutions, according to three people briefed on the discussions between the companies.
Paramount is also expected to name Bari Weiss, a co-founder of The Free Press, as editor in chief of CBS News, the people said. In the newly created role, Ms. Weiss, 41, who began her career as an opinion writer and editor for magazines and newspapers, would wield enormous influence over one of the country’s largest broadcast news divisions and marquee shows like “60 Minutes.”
Two people briefed on the terms said the acquisition would value The Free Press at around $150 million, paid out over time with a mix of cash and stock. The total value of the deal could fluctuate depending on the price of Paramount’s stock.
A deal would be a major vote of confidence in Ms. Weiss from Paramount and its chief executive, David Ellison, who has been in talks to acquire The Free Press for months. Mr. Ellison has said he aims to carry on the fundamental mission of CBS News, telling reporters at a news conference in August that he wanted the network to remain a purveyor of “truth” and “facts.”
Tom Cibrowski is expected to remain president of CBS News and work alongside Ms. Weiss, people briefed on internal deliberations said.
Paramount’s acquisition of The Free Press could set up a culture clash within CBS News. Ms. Weiss does not have experience managing TV news coverage, and her publication is much smaller than CBS News, which has bureaus around the world staffed by hundreds of producers, anchors and reporters.
The Free Press publishes a heterodox mix of opinion columns and original journalism. Frequent themes include the excess of the “woke left” and the perceived biases of traditional media organizations.
Ms. Weiss co-founded The Free Press in 2021 after quitting The New York Times, where she worked for the opinion section, saying she was leaving because of an “illiberal environment.” The Free Press has amassed roughly 1.5 million free and paid subscribers with reporting and opinionated essays on business, politics and international affairs.
The prospective arrival of Ms. Weiss is another twist in a tumultuous year at CBS News. President Trump sued Paramount over a “60 Minutes” interview last October with Kamala Harris, who was vice president and his electoral opponent, accusing the show of distorting her remarks to present her in a more favorable light.
Tensions at the news division escalated as Paramount entered into mediation with Mr. Trump to settle the lawsuit. Bill Owens, the executive producer of “60 Minutes,” stepped down, citing encroachments on his journalistic independence. Wendy McMahon, the president of the division, was forced out soon after.
Paramount’s eventual $16 million settlement, in a case that many legal experts dismissed as frivolous, led to accusations that the company was trying to curry favor with the Trump administration. Paramount was seeking to merge with Skydance, a movie studio run by Mr. Ellison, and the deal required approval from federal regulators. The merger was blessed in late July, about three weeks after the settlement.
Benjamin Mullin reports for The Times on the major companies behind news and entertainment. Contact him securely on Signal at +1 530-961-3223 or at [email protected].
Michael M. Grynbaum writes about the intersection of media, politics and culture. He has been a media correspondent at The Times since 2016.
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