A report from Puck has David Ellison, CEO of Skydance Media and now leading Paramount after its $8 billion merger, is close to finalizing a deal to acquire The Free Press, founded by Bari Weiss, for a sum expected to be above its recent $100 million valuation but below the $200 million figure previously floated.
The deal is described as being "on the 1-yard line," with lawyers working to complete the agreement.
This move aligns with Ellison’s vision to reshape CBS News, which has faced challenges like declining ratings and recent controversies, including a $16 million settlement with President Donald Trump over a disputed "60 Minutes" interview.
Weiss’s editorial stance, characterized by its anti-woke and pro-Israel perspectives, is expected to influence CBS News’ direction, potentially causing friction in the newsroom but reflecting Ellison’s intent to align the network with his own political and business goals.
The Free Press, generating about $15 million in annual subscription revenue, is a subscriber-driven platform with roughly 1.5 million subscribers, known for its critique of mainstream media and progressive ideologies.
CBS News staffers are “apoplectic” over reports that Bari Weiss — an avowedly pro-Israel journalist — is on the verge of taking a top job at the Tiffany Network, according to The NY Post.
Weiss, the former New York Times opinion editor who quit in 2020 after blasting the paper’s “illiberal environment,” is reportedly in line for a senior editorial role at CBS as part of Paramount’s pending acquisition of her startup, the Free Press, in a deal valued at up to $200 million.
Paramount boss David Ellison, who seized control of the network in an $8 billion mega-merger with Skydance, has declined to comment on the talks.