• Status
  • Posts
  • The Paramount Paradox

The Paramount Paradox

The behind-the-scenes corporate maneuvering taking place as Paramount prepares to be acquired by Skydance offers some context about the "CBS Mornings" fiasco.

Author

Oliver Darcy
October 10, 2024

Jeff Shell, Shari Redstone, and George Cheeks. (Photos by Kevin Dietsch/Emma McIntyre/Getty Images)

Media moguls are rarely, if ever, publicly rebuffed by their subordinates.

But that is precisely what happened at Paramount Global this week, when the company's controlling-shareholder, Shari Redstone, rebuked CBS News leadership, only to effectively be dismissed hours later by the company's co-chief executive, George Cheeks.

Speaking at an Advertising Week panel on Wednesday, Redstone criticized CBS News for reprimanding "CBS Mornings" co-host Tony Dokoupil over his interview with author Ta-Nehisi Coates. She called it a "bad mistake" and declared that "something needs to be done" to rectify the situation.

However, Cheeks quickly countered Redstone's critique. Instead of announcing substantive action to remedy the "mistake" Redstone said the network made, Cheeks released a carefully worded statement fully supporting his embattled CBS News chief Wendy McMahon. He praised McMahon as an "outstanding, accomplished leader" and stood by her call to have Dokoupil scolded in front of the network's entire workforce, the questionable decision that spurred the five-alarm public relations disaster roiling the company.

The astonishing back and forth left industry insiders buzzing about the unfolding — and unprecedented — tussle. Indeed, normally it would be fair to assume that Cheeks brushing off Redstone in such a fashion could jeopardize his position within the company.

Yet, the behind-the-scenes corporate maneuvering taking place…

The remainder of this article and newsletter is for paid subscribers only.

Don’t miss out! Become a member today.

A subscription gets you full access to our nightly newsletter, which includes:

✅ Essential reporting on and analysis of the Fourth Estate, Silicon Valley, Hollywood, the Information Wars, and more.

✅ Hand-curated links to the most consequential stories moving the needle in the key corridors of the industry.

✅ Unlimited access to our online archive where you can read previous editions of the newsletter.

Get seen. Advertise with Status

Elevate your brand and expand its reach with Status, the reliable source for media pros. Reach top figures and decision makers across news, tech, politics, and entertainment. Advertise with Status and make an impact. Get in touch here.