CBS News is set for a major overhaul under new CEO David Ellison, who leads the combined Paramount and Skydance media empire. Ellison, the son of Oracle co-founder Larry Ellison, has expressed interest in shifting the news division away from its progressive leanings towards more “truth-based” reporting.
While Ellison acknowledges the legacy of CBS News’ iconic anchors like Edward R. Murrow, Mike Wallace, and Walter Cronkite, he believes the network’s current direction is no longer profitable. The new management plans to re-evaluate the entire news division, including potential layoffs and salary cuts.
CBS Sports, under Ellison’s leadership, will be a key focus area for growth. This shift in emphasis may signal changes for existing anchors, as seen with Tony Dokoupil’s recent scolding from management for questioning author Ta-Nehisi Coates’ work.
The deal to merge Paramount and Skydance was contingent on settling a lawsuit filed by President Trump, which aimed to keep the merger from moving forward. The settlement, worth $16 million, has allowed the regulatory review to proceed, with the new company expected to be approved in a few weeks.
When that happens, Shari Redstone will receive approximately $2 billion, significantly less than her initial estimated value of around $40 billion. Ellison’s leadership will now take over the network, leaving existing anchors and staff uncertain about their roles and future under the new management.
Source: https://nypost.com/2025/07/06/business/expect-cbs-news-to-undergo-a-major-overhaul-under-skydance-boss-david-ellison