LOS ANGELES, CALIFORNIA, Oct 6 (Reuters) - Paramount

Skydance ( PSKY ) CEO David Ellison has named Bari Weiss

editor-in-chief of CBS News, as part of a deal to acquire the

online news site she founded, The Free Press.

The companies did not disclose the deal value in Monday's

announcement. A source familiar with the matter said it was for

$150 million.

The announcement capped months of talks between Ellison and

Weiss. The newly minted media baron first floated the idea at

July's Allen & Co conference in Sun Valley, a frequent staging

ground for major media mergers, according to media reports.

Weiss resigned as an opinion writer for the New York Times

in July 2020, in a 1,500-word open letter in which she described

being the subject of "constant bullying" by colleagues who

disagreed with her views.

In 2022, she founded her new media company on a credo of

"honesty, doggedness, and fierce independence."

"This move is part of Paramount's bigger vision to modernize

content and the way it connects - directly and passionately -

to audiences around the world," Ellison said, calling Weiss "a

proven champion of independent, principled journalism."

The Free Press has earned a reputation for challenging

conventional narratives.

Notable articles include a first-person essay from a

then-senior editor at NPR, who accused the public radio network

of liberal bias that cost it listeners' trust.

Another offered a whistleblower account of the Washington

University Transgender Center at the St. Louis Children's

Hospital, which reported vulnerable teenagers with mental health

problems rushed into life-altering treatments.

Weiss will report directly to David Ellison, and help set an

editorial course for CBS News. The network's evening news

broadcast is in third place behind its television peers.

She will work with CBS News President Tom Cibrowski, who

joined in 2025 after spending 25 years at ABC News in a variety

of leadership positions. Cibrowski will continue to report to

George Cheeks, Paramount's chair of TV Media.

The Free Press, which has about 1.5 million subscribers

including 170,000 paying members, will remain independent,

retaining its brand and operations, the companies said.

Major media and tech companies are now controlled by

supporters of President Donald Trump or billionaire business

leaders who lined up behind him during his inauguration, donated

to his inaugural fund or visited the White House with gifts.

The son of longtime Trump supporter Larry Ellison, David

Ellison, helped secure regulatory approval for his company

Skydance Media to buy Paramount, with the promise that the CBS

network would reflect "a diversity of viewpoints from across the

political and ideological spectrum," according to a statement

from Federal Communications Commission Chairman Brendan Carr

announcing the deal.

Prior to the deal, Paramount paid $16 million to settle a

2024 lawsuit Trump filed over a "60 Minutes" interview with

former Vice President Kamala Harris, which he claimed gave a

distorted view of his rival for the White House.

The FCC has said the settlement and regulatory review were

unrelated. In early September, the company announced the

appointment of its new ombudsman, Kenneth Weinstein, a former

president and CEO of the conservative Hudson Institute.

(Reporting by Dawn Chmielewski in Los Angeles; additional

reporting by Helen Coster in New York, Aditya Soni and Jaspreet

Singh in Bengaluru; Editing by Sriraj Kalluvila)