Paramount Acquires The Free Press, Appoints Bari Weiss As CBS News Editor-in-Chief

(RTTNews) - Paramount, a Skydance Corp. (PSKY), Monday announced the acquisition of The Free Press, a leading independent subscription-based media outlet.

The goal of the merger is to establish a new benchmark for reliable, fact-based reporting in America by combining the broad reach of CBS News with the creative and independent journalistic style of The Free Press.

Co-founder and CEO of The Free Press Bari Weiss will become editor-in-chief of CBS News, reporting directly to David Ellison, chairman and CEO of Paramount.

Weiss's leadership and dedication to ethical journalism, according to Ellison, will invigorate CBS News and further Paramount's goal of modernizing the delivery of global content.

For its expanding subscriber base of 1.5 million, The Free Press will continue to produce events, podcasts, and reporting under its own name.

PSKY is currently trading at $18.99, down $0.10 or 0.52 percent on the Nasdaq.