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Re:

Did Substack Take Over CBS News? What Actually Changed

Paramount acquired The Free Press and appointed founder Bari Weiss CBS News editor-in-chief. That was not a Substack takeover of CBS News.
From TheFinanceBase Team2 min to read
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No: the documented deal was not a Substack acquisition of CBS News. On October 6, 2025, Paramount announced that it had acquired The Free Press, the publication founded by Bari Weiss, and appointed Weiss CBS News editor-in-chief. The two moves are connected, but they are not the same transaction.

What happened to CBS News?

Paramount acquired The Free Press and named its co-founder and CEO, Bari Weiss, editor-in-chief of CBS News. The Associated Press also reported the acquisition and appointment. Neither Paramount’s announcement nor the AP account describes Substack as the buyer of CBS News or as the company acquiring The Free Press. AP’s October 6, 2025 report and Paramount’s announcement document the distinction.

Which organization was acquired, and what role did Weiss take?

The acquired publication was The Free Press, not CBS News. Paramount said The Free Press would continue under its own brand and operations, including its reporting, podcasts and events. Weiss would lead CBS News as editor-in-chief while also remaining associated with The Free Press.

In Paramount’s announced reporting structure, Weiss would report directly to David Ellison, then Paramount chairman and CEO, and partner with CBS News President Tom Cibrowski. Paramount said Cibrowski reported to Paramount TV Media chair George Cheeks. This was a leadership appointment at CBS News alongside a separate acquisition of The Free Press; the announcement does not describe a merger of the two newsrooms.

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What did Paramount report about The Free Press?

Paramount’s October 6, 2025 announcement said The Free Press had 1.5 million subscribers, including more than 170,000 paid subscribers. It also reported 86% subscriber growth and 82% revenue growth over the prior 12 months. These are figures Paramount supplied; the reviewed reporting does not independently verify them. Paramount’s announcement is the source for those figures.

Who owns CBS News now?

There is a later corporate development. On October 6, 2026, Skydance announced that it had completed its acquisition of Warner Bros. Discovery. Its SEC-filed announcement lists CBS News and CNN among the combined company’s news assets. That transaction is separate from Paramount’s 2025 acquisition of The Free Press and Weiss’s appointment. Skydance’s SEC-filed announcement provides that corporate update.

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Was a purchase price disclosed?

The October 6, 2025 Paramount announcement did not state a purchase price, and the AP report said no price had been announced. The available material therefore does not establish the transaction’s price.

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