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Paramount has acquired start-up The Free Press for about $150mn, appointing its founder Bari Weiss as editor-in-chief of CBS News, the century-old broadcaster once considered a bastion of mainstream journalism.
The transaction gives Weiss, who has railed against the mainstream media, editorial control of CBS News, which has been at odds with US President Donald Trump over the past year, culminating in a $16mn legal settlement with Paramount.
The acquisition marks the first major deal under Paramount’s new owner, David Ellison, the son of Oracle founder Larry Ellison. People familiar with the matter said David Ellison had been courting Weiss for months as part of an effort to reset CBS’s editorial direction. Weiss’s vocally pro-Israel stance was among the factors that appealed to Ellison, they added.
“Bari is a proven champion of independent, principled journalism, and I am confident her entrepreneurial drive and editorial vision will invigorate CBS News,” Ellison said on Monday. “We believe the majority of the country longs for news that is balanced and fact-based, and we want CBS to be their home.”
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Weiss said she was committed to “building the most trusted news organisation of the 21st century.”
Weiss, a former New York Times journalist, made a name for herself by attacking liberal institutions and “cancel culture”. She has built a loyal following among both centrists and Maga circles since leaving the Times in 2020 and founding The Free Press, a newsletter, podcasting and events business.
The Free Press last year raised $15mn from investors valuing the start-up at about $100mn, the Financial Times previously reported. Weiss has previously raised funds from investors including Marc Andreessen and David Sacks.
