Paramount's New CEO Meets The Media

David Ellison, the new CEO of Paramount following the $8.4 billion merger with Skydance Media, faced intense scrutiny during a press conference in New York City, hours after the merger closed.

Journalists pressed him on several contentious issues, including the future of CBS News, allegations of concessions to President Donald Trump, mergers and acquisitions (M&A) strategy, and the cancellation of The Late Show with Stephen Colbert. 

Ellison’s first act as CEO was a symbolic visit to CBS News offices, where he addressed staff amid a turbulent period marked by resignations and controversy over editorial independence. He praised CBS News’ “storied legacy” and 60 Minutes for its “long tradition of impactful reporting,” committing to invest in the division and foster a newsroom culture that empowers journalists. 

He emphasized “fact-based journalism” and suggested CBS News should appeal to a broad audience, specifically “70% of Americans from center left to center right,” avoiding hyperpartisan extremes. 

However, Ellison faced questions about Skydance’s commitments to the FCC, including appointing an ombudsman to review “complaints of bias” and eliminating diversity, equity, and inclusion (DEI) programs. 

Paramount President Jeff Shell clarified the ombudsman as a “transparency vehicle, not an oversight vehicle,” denying FCC oversight. 

Reports also surfaced about Ellison’s interest in acquiring The Free Press, a conservative-leaning outlet, raising concerns about a potential rightward shift in CBS News’ editorial direction. Ellison declined to comment on these talks, asking to be judged by the newsroom’s output.

Donald Trump and the $16 Million Settlement

A major point of contention was Trump’s claim that Paramount agreed to provide $16–$20 million in pro-Trump public service announcements (PSAs) as part of a $16 million settlement over a 60 Minutes interview with Kamala Harris, which Trump alleged was deceptively edited. 

The settlement, paid to Trump’s future presidential library, was widely criticized as a “bribe” to secure FCC approval for the merger, led by Trump-appointed Chairman Brendan Carr. 

Ellison dodged direct questions about the PSAs, stating, “We are not going to politicize anything today,” and clarified that Skydance was not involved in the settlement, which was handled by Paramount Global. Critics, including Democratic Senators Elizabeth Warren, Bernie Sanders, and Ron Wyden, questioned whether additional concessions were made, citing Trump’s claim of a “side deal” worth up to $35 million. 

Paramount denied these claims, but the timing of the settlement and merger approval fueled speculation of political influence.