Skydance and Paramount complete their merger – whither CBS News?
The headline-chewing Skydance Media takeover of Paramount Global was formally concluded Thursday. The merger marks the transition from three decades of control by the Redstone family to companies controlled by the Ellison family – tech mogul Larry and his son, David.
In a lengthy open letter new Chairman and CEO David Ellison touted the benefits of combining tech platforms and studio creative services, while amping up direct-to-consumer streaming programming. CBS and other TV media, while providing more than 60% of Paramount’s revenue, received lesser attention.
However what Ellison did say about CBS News was notable: “News partners: We recognize it’s been a challenging period and we’re deeply grateful for your resilience, professionalism, and unwavering commitment to the news business. We take immense pride in CBS News’ legacy of impactful journalism and look forward to continuing to foster a newsroom culture where journalists are empowered, trusted, and equipped to do their best work.”
Related Knowledge Center: State of the business model
The traditional journalism business model has long since collapsed, and news organizations have shrunk or disappeared entirely. While a number of promising experiments are under way, the public has not shown a willingness to buy what news organizations are selling.
Related Knowledge Center: The White House vs. the press
Whether it’s the Des Moines Register’s publication of an unfavorable election poll, a routine edit of a 60 Minutes interview with Kamala Harris, or the Associated Press’s decision in its authoritative stylebook to continue to use “Gulf of Mexico,” Donald Trump and the White House have used executive authority and legal reprisals in an effort to punish and suppress press coverage that runs contrary to the administration’s preferred narratives.
Democracy and politics | Signalgate | The CBS submission | Voiceless America
Related Knowledge Center: The CBS submission
Corporate pressure has led to capitulation by CBS News in a number of conflicts with the Trump regime — including its newly ideological coverage philosophy.