--- title: "One Billionaire, Two Networks: David Ellison's Bets Are Remaking TV News" description: "The firing of veteran correspondent Scott Pelley from '60 Minutes' and a pending merger that would place CNN under the same owner as CBS News have put media executive David Ellison and his hand-picked editor Bari Weiss at the center of the biggest shake-up in American television news in years." category: "Business" category_url: https://herald.la/category/business author: "Arman Petrosyan" published: 2026-06-27T09:38:34.000Z updated: 2026-06-27T09:38:34.000Z canonical: https://herald.la/article/one-billionaire-two-networks-david-ellison-s-bets-are-remaking-tv-news tags: ["CBS News", "CNN", "Bari Weiss", "David Ellison", "Paramount", "media", "60 Minutes"] --- # One Billionaire, Two Networks: David Ellison's Bets Are Remaking TV News The firing of veteran correspondent Scott Pelley from '60 Minutes' and a pending merger that would place CNN under the same owner as CBS News have put media executive David Ellison and his hand-picked editor Bari Weiss at the center of the biggest shake-up in American television news in years. American television news is being reshaped by one company, steered by one executive — and the latest, most public sign of the upheaval was the firing of one of CBS's most recognizable journalists. ## A newsroom flashpoint On June 2, CBS News dismissed Scott Pelley, a former anchor of the *CBS Evening News* and a nearly four-decade veteran of the network, a day after he publicly criticized new management at a staff meeting, [NBC News reported](https://www.nbcnews.com/business/media/cbs-news-fires-60-minutes-correspondent-scott-pelley-rcna348176). Pelley accused Bari Weiss, the network's new editor-in-chief, of seeking to undermine *60 Minutes*. Weiss, in turn, said trust had been "broken" and called the departure "unfortunate," [according to CNN Business](https://www.cnn.com/2026/06/02/media/scott-pelley-60-minutes-cbs-meeting-bari-weiss-cibrowski-bilton). The exit followed a string of high-profile departures from the storied newsmagazine and turned an internal restructuring into a national story — at a delicate moment for the program's parent company. ## How Weiss came to CBS Weiss's path to one of broadcasting's most prominent newsrooms runs through David Ellison, the chief executive whose Skydance Media merged with Paramount in 2024, installing him atop the combined company. In 2025, CBS News president Wendy McMahon left after objecting to Paramount's decision to settle defamation suits brought by President Trump, a move widely read as easing regulatory approval of Ellison's ambitions. That October, Paramount acquired The Free Press, the subscription news site Weiss founded, and named her editor-in-chief of CBS News — the first person to hold that title, [CNN reported](https://www.cnn.com/2026/06/02/media/scott-pelley-60-minutes-cbs-meeting-bari-weiss-cibrowski-bilton). A former New York Times opinion editor, Weiss built The Free Press as a platform skeptical of progressive orthodoxy. Her appointment was praised by some as a corrective and condemned by others as an ideological turn at a public-trust institution. ## CNN is the bigger prize The timing matters because Paramount is close to controlling a second major news network. In February, [Paramount announced an agreement to acquire Warner Bros. Discovery](https://ir.paramount.com/news-releases/news-release-details/paramount-acquire-warner-bros-discovery-form-next-generation/) — CNN's parent — in a deal valuing the company at roughly $110 billion. Warner Bros. Discovery shareholders approved the transaction in April, and it is expected to close in the third quarter of 2026, pending regulatory clearance. If it does, Ellison's Paramount would own both CBS News and CNN, an unusual concentration of news assets. Whether Weiss would also oversee CNN's editorial operation is unsettled: some trade reporting has suggested she is positioned to do so, while other accounts cite sources saying there is no such plan. Neither Paramount nor Weiss's office has confirmed any CNN role for her. ## What is at stake For CNN's newsroom and its audience, the open question is whether Ellison treats the network as a prestige asset to preserve or a platform to reposition. Critics inside CBS have argued that *60 Minutes*'s reputation for independence has been compromised; Weiss and Paramount dispute that. What is not in dispute is the scale of the moment — a single owner on the verge of shaping an outsized share of what Americans see when they turn on the news. ## Sources - [Scott Pelley fired by CBS after '60 Minutes' clash with Bari Weiss](https://www.cnn.com/2026/06/02/media/scott-pelley-60-minutes-cbs-meeting-bari-weiss-cibrowski-bilton) - [CBS News fires '60 Minutes' correspondent Scott Pelley](https://www.nbcnews.com/business/media/cbs-news-fires-60-minutes-correspondent-scott-pelley-rcna348176) - [Paramount to acquire Warner Bros. Discovery](https://ir.paramount.com/news-releases/news-release-details/paramount-acquire-warner-bros-discovery-form-next-generation/)