"Last month, federal regulators approved the long-anticipated merger of Skydance Media and Paramount Global, positioning David Ellison the founder of Skydance and the son of megabillionaire Larry Ellison as one of the most powerful figures in US media. Paramount Skydance Corporation, as it is now officially known, is one of a small handful of American media conglomerates, with Paramount Pictures, cable networks such as Comedy Central and MTV, and CBS all under its umbrella."
"But one of the most buzzed-about aspects is Paramount's possible acquisition of the Free Press, the digital media company founded by Bari Weiss as a Substack newsletter in 2021, and Weiss's potential new role steering CBS's editorial slant. In July, the Financial Times reported that Weiss was seeking at least $200m for her website more than double its valuation a year earlier and more than the site's admittedly impressive 155,000 paid subscribers (roughly a tenth of total subscribers) would seem to justify."
Federal regulators approved the merger of Skydance Media and Paramount Global, creating Paramount Skydance Corporation and elevating David Ellison as a major media power. The conglomerate includes Paramount Pictures, cable networks like Comedy Central and MTV, and CBS, which operates a major news division with nightly viewership in the millions and 60 Minutes as the top network news program. Early consequences included a $16m settlement to Donald Trump and the controversial cancellation of The Late Show With Stephen Colbert amid speculation about political influence. Paramount has explored acquiring Bari Weiss's Free Press and reported advisory ties to former executives.
Read at www.theguardian.com
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