Paramount on Monday confirmed that it would bet millions on what many consider to be a long-shot strategy to re-energize a traditional network news division in an era when more people are getting their headlines off their social media feeds. Bari Weiss, a provocative opinion writer, will become editor in chief of CBS News while Paramount acquires her web site, The Free Press, a commentary site that has 1.5 million paid and free subscribers — a mere fraction of the audience that watches CBS News’ most popular shows.
Paramount is believed to be spending $150 million on the maneuver, one that even insiders acknowledge has only a slim guarantee of succeeding and could draw more scrutiny than the company cares to attract.
“Bari is a proven champion of independent, principled journalism, and I am confident her entrepreneurial drive and editorial vision will invigorate CBS News,” said David Ellison, Paramount’s CEO. “This move is part of Paramount’s bigger vision to modernize content and the way it connects – directly and passionately – to audiences around the world.”
There are some parties who aren’t sure CBS News needs to be invigorated. The news outlet backs some of TV’s most watched properties in the format, including “60 Minutes” and “CBS Sunday Morning.” At the same time, some of CBS News’ daily properties, including “CBS Evening News” and “CBS Mornings,’” have long run in third place against direct competition on ABC and NBC.
The Free Press will maintain its own independent brand and operations, and continue to do reporting, video and audio podcasts, and events for its fast-growing community of subscribers. Meanwhile, Weiss will shape CBS News’ editorial priorities and examine ways to innovate how the organization reports and delivers the news. Weiss will partner with CBS News President Tom Cibrowski, who reports to Paramount’s Chair of TV Media, George Cheeks.
More to come…
variety.com
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