Paramount Nears $200 Million Acquisition of Bari Weiss's Free Press, Appointing Her to CBS News Leadership

Paramount is finalizing a deal to acquire Bari Weiss's media venture, The Free Press, for an estimated $100 million to $200 million, a move that will see Weiss take on a senior editorial role at CBS News. The acquisition is part of a broader strategy by Paramount's new leadership, under David Ellison, to reshape CBS News and infuse it with a focus on "viewpoint diversity" and a critique of mainstream media narratives. This significant transaction follows the recent $8 billion merger between Skydance Media and Paramount Global, placing CBS News under Ellison's direct oversight.

The Free Press, founded by Weiss in 2022 after her high-profile departure from The New York Times, quickly established itself as a platform for "heterodox" views, often challenging what it describes as "woke" ideology. The subscriber-driven outlet has gained traction by publishing essays, interviews, and commentary from journalists and thinkers critical of progressive cultural and social trends. This rapid growth and successful market positioning have made it an attractive asset in the evolving media landscape.

The reported acquisition and Weiss's impending role at CBS News have sparked considerable internal debate and external criticism within media circles. Journalist Taylor Lorenz, for instance, openly characterized the venture as "right wing grift," reflecting a sentiment among some who view such media companies as opportunistically capitalizing on political polarization. This criticism often centers on the perception that these outlets, despite claiming to be anti-establishment, ultimately serve to reinforce existing power structures.

Paramount's interest in The Free Press signals a strategic shift aimed at modernizing CBS News and addressing declining ratings, with Ellison reportedly keen to integrate Weiss's editorial perspective. The deal has already led to concerns among some CBS News staff, with reports suggesting potential resignations due to Weiss's background in opinion journalism rather than traditional news-gathering. The FCC's approval of the Skydance-Paramount merger was reportedly conditioned on changes at CBS News, including the installation of an ombudsman and the dismantling of DEI programs.

The sale marks a substantial financial success for Weiss, who launched The Free Press with initial funding from venture capitalists like Marc Andreessen and David Sacks. The company was valued at $100 million last year, and the current acquisition talks suggest a significant increase in its perceived worth. This deal underscores a growing trend of investment in digital-first, independent media platforms that cultivate loyal, subscriber-based communities, often by offering alternative viewpoints to established news organizations.