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Ex-New York Times writer Bari Weiss to lead CBS after Paramount deal
Getty ImagesParamount has named former New York Times opinion writer Bari Weiss to lead CBS News, in the latest move by new owners to reshape operations of one of America’s leading news organisations.
Paramount is also buying The Free Press, the digital outlet Weiss started after her acrimonious departure from the New York Times, in a deal reported to be worth $150m (£112m).
Ms Weiss, who has criticised broadcast media for becoming too partisan, said she was excited to put her stamp on CBS, which was taken over by David Ellison earlier this year as part of a wider merger with Paramount.
The deal has drawn scrutiny on the left because Mr Ellison is the son of tech billionaire and Trump ally Larry Ellison.
Ms Weiss, who started her career working at Jewish news outlets, is known for her support of Israel and her criticism of “cancel culture”.
Since its start as a newsletter in 2021, The Free Press has attracted 1.5 million subscribers, including more than 170,000 paid subscribers.
It has drawn attention for reports such as a piece critical of NPR by one of its former business editors, Uri Berliner, as well as an investigation of some photos used by mainstream news outlets to illustrate famine in Gaza, which said many of those featured suffered other health conditions.
Big name contributors include historian Niall Ferguson and economist Tyler Cowen.
Mr Ellison said the appointment of Ms Weiss as editor-in-chief was part of a bigger effort to modernise content at Paramount and make CBS the “most-trusted name in news”.
“We believe the majority of the country longs for news that is balanced and fact-based, and we want CBS to be their home,” he said.
More change at CBS
Terms of the deal were not disclosed. Paramount declined to comment on the reports that the firm had paid $150m in stock and cash.
Mr Ellison made his name as a Hollywood film producer of blockbusters such as Top Gun Maverick, True Grit and World War Z.
He has said his aim is to produce coverage that is less politically skewed, and therefore has the ability to reach all audiences.
His takeover of Paramount was approved by the Trump administration this summer, after the company agreed to pay $16m to settle a lawsuit brought by Trump over a 60 Minutes interview with his 2024 presidential rival Kamala Harris he said was deceptively edited to benefit Democrats.
To win approval of the deal, Mr Ellison agreed to install an independent ombudsman at CBS to review complaints of bias and committed to regulators that programming would reflect a diversity of view points.
He also said CBS’s long-running political show “Face the Nation” would no longer air edited interviews.
CBS News has a partnership agreement with the BBC, meaning news content including video footage can be shared. BBC News is editorially independent of CBS.
In a note announcing the deal, Ms Weiss said she believed in the Paramount boss and his leadership team.
“They are doubling down because they believe in news. Because they have courage. Because they love this country. And because they understand, as we do, that America cannot thrive without common facts, common truths, and a common reality,” she wrote.
It is unusual for a senior figure at the Bank to be so forthright on market movements.
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Consumer confidence has fallen for the third consecutive month amid household “jitters” over rapid price rises, figures show.
GfK’s long-running consumer confidence index fell four points to minus 25 in April, following falls of two points and three points in March and February respectively.
The deepening concern was driven by perceptions of the UK economy, with a six-point slide in confidence for the next 12 months to minus 43, its lowest level since February 2023.
Confidence in personal finances over the coming year fell five points to minus four – one point lower than this time last year.
The major purchase index – an indicator of confidence in buying big ticket items – held steady, albeit at minus 18 but one point better than last April.
The only measure to improve was the savings index – often an indication that households are concerned about their finances and looking to build contingency funds – which is up five points to 32.
Neil Bellamy, consumer insights director at GfK, said: “Consumers really do have the jitters now.
“It is a year since we last saw a monthly drop of this size, and we have to go back to October 2023 to find the last time consumer confidence was lower.
“Everyone is grappling with rapid price rises, especially at the fuel pumps, which are taking a dent out of household budgets, and people know further price hikes are coming.
“Consumer confidence is deteriorating sharply, with fuel prices and threats of more energy price increases acting as constant reminders of inflation.
“While the Gulf crisis is intensifying pressures, much of the current strain reflects earlier domestic cost increases.
“How long can all this disruption and pain continue?”
People walk past a Nike store in New York City, on April 2, 2025.
Kylie Cooper | Reuters
Nike announced a new round of layoffs Thursday affecting approximately 1,400 employees across the organization, mostly concentrated in its technology department.
In a note from COO Venkatesh Alagirisamy, the company said the layoffs were part of Nike’s broader “Win Now” turnaround strategy aiming to reshape its technology team, modernize its Air manufacturing, move some of its Converse Footwear operations and integrate its materials supply chain work into its footwear and apparel supply chain teams.
“Collectively, these changes will result in a reduction of approximately 1,400 roles in global operations, with the majority in technology,” Alagirisamy wrote. “These reductions are very hard for the teammates directly affected and for the teams around them, too.”
A Nike spokesperson said the layoffs are about better positioning the organization for the current pace of sports and accelerating its growth. The layoffs affect employees across North America, Asia and Europe and represent less than 2% of the company’s total global head count.
“This is not a new direction,” Alagirisamy wrote. “It is the next phase of the work already underway.”
Affected employees will be notified beginning Thursday, Nike added.
CEO Elliott Hill has been working to turn Nike around after years of slumping sales. While Hill has made some initial progress, it’s come with some bumps in the road.
Nike announced 775 job cuts in January, primarily at its U.S.-based distribution centers, due to the company’s work in accelerating its use of automation. At the time, the company said the cuts are part of Nike’s goal to return to “long-term, profitable growth.”
Those layoffs came on top of a round of cuts last summer that affected less than 1% of Nike’s corporate staff as part of the company’s efforts to realign the business.
In its third fiscal quarter earnings report last month, the retailer warned that sales will continue to fall for the rest of the year, primarily led by an anticipated 20% decline in China during the current quarter.
— CNBC’s Jessica Golden contributed to this report.
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