CBS, once embroiled in a tumultuous upheaval, finds itself in a period of necessary adjustment. The recent acquisition of the network’s parent company, Paramount Global by Skydance Media, after a legal tussle with President Donald Trump and the Federal Communications Commission over CBS News’ ’60 Minutes’, left many beholden to the vicious whims of bring-back-to-order efforts, separate from the network’s regular duties, such as broadcasting the Emmy Awards live on Sept. 14.
Under the fresh ownership of Skydance Media for the first time in a quarter-century, the integration is in its infancy. But CBS and Paramount veterans already note an atmosphere shift with the arrival of David Ellison, representing not only a new frontier but also a pivot from the long-standing Redstone era. This, to the relief of those within CBS finally free to breathe, appears to offer a shift in executive approach and priorities.
The notion of cautious optimism appears to be the prevailing sentiment amongst insiders across CBS, CBS Studios, and the recently amalgamated Paramount TV Studios. There’s a fragile sense that things are improving, as one anonymous insider pointedly stated, ‘It certainly couldn’t have gotten much worse, so it’s all up from here.’
Despite this newfound optimism, both Ellison and Paramount president Jeff Shell have yet to detail a comprehensive vision for CBS and how it fits into the rapidly evolving television landscape. As Skydance takes the helm of Paramount Global, it inherits a period of upheaval in the pay TV sector which requires a detailed and proactive plan.
CBS’s role in the American television tapestry is undeniable; however, its future won’t be secured without a clear strategy for not only its operational mainstays (broadcast network, studio operations, news, sports, local TV) but also for their navigation in the increasingly ubiquitous streaming era.
As the Paramount-Skydance merger takes shape, inevitable organizational changes are on the horizon, hinted at by anticipated layoffs expected to reach upwards of 2,000. Ellison personally assured investors a cost-saving approach of $2 billion after the deal’s closing. Naturally, eyes will be trained to observe how these decisions affect CBS, providing key insights into the company’s broader plans.
CBS has managed to retain an unexpectedly radiant strip amidst turbulence, launching popular scripted series that draw audiences on both traditional and streaming platforms. Nonetheless, the cancellation of ‘The Late Show With Stephen Colbert’ pulls further at the fabric of CBS’s already strained tapestry.
Frequent layoffs have undoubtedly shaken the morale within CBS. Amidst the extended period of uncertainty regarding the network’s future, CBS demonstrated determination, launching several highly watched scripted series such as ‘Tracker’, ‘Fire Country’, ‘NCIS’, ‘Matlock’, ‘FBI’, ‘Ghosts’, and ‘Georgie & Mandy’s First Marriage’, and reality TV stalwarts ‘Survivor’ and ‘The Amazing Race’, all set to return for the television season.
Following the merger, TV production operations have been divided between CBS Studios, under president David Stapf, and Paramount Television Studios, under Skydance veteran Matt Thunell. CBS Studios will primarily focus on broadcast while concurrently keeping a toehold in the streaming realm.
As Paramount and Skydance lay out their roadmap, they will need to calibrate various processes and make personnel decisions. The litmus test of the merged entity’s interest in the central business of CBS lies in particular areas, such as local weather reporting.
An example is the CBS-owned KCAL-TV and KCBS-TV in Los Angeles, which have recently showcased a ground-breaking virtual reality/augmented reality studio for weather coverage. This indicated the company’s eagerness to incorporate technology to improve CBS’s local TV sector, a commitment that will surely be tested by the new owners.
Just one month into the Skydance era, reports suggest a more positive atmosphere permeating CBS. Strong gestures by Ellison, such as significant acquisition of rights and conversion of enterprises into films, serve as indicators of his commitment to bolstering the network’s growth.
The post CBS’s Struggle Under Skydance Media’s Ownership Begins appeared first on Real News Now.
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