Thursday marked day one of Skydance Media’s takeover of Paramount Global, the parent company of CBS News, with David Ellison at the helm and his billionaire father Larry as its largest shareholder. Along with facing media reporters on Thursday, David Ellison spoke Friday on CNBC’s Squawk on the Street and doubled down on his promise to ensure CBS News lives “in the truth business” and that they should not “inject politics into everything we do.”
As part of larger interview focused on artificial intelligence, Paramount’s movie studio, the streaming platform Paramount+, and the NFL on CBS to name a few, co-host David Faber pivoted to CBS News by citing the meltdown from Democrat FCC Commissioner Anna Gomez claiming without evidence the network — because of its settlement last month with President Trump — is now state-run media.
Gomez specifically claimed a promise to add an ombudsman to the ranks was proof of this, but Ellison blasted this as “the opposite of accurate” because “I’m truly dedicated towards...the truth business and being in the trust business.”
“I think when you think about the legacy of CBS News and 60 Minutes, the home of Walter Cronkite, it’s a storied legacy that we intend to honor and carry forward,” he added.
Ellison explained the ombudsman role will be “a vehicle for transparency, not oversight and it basically is a way for both external and internally for people to provide feedback and then that gets reported up to the president of Paramount, Jeff Shell” and “doesn’t get reported anywhere else.”
Disappointing to hear any investigations or work by said individual won’t be made public, but at least the input will be open to both sides.
After Faber asked whether the hubbub surrounding CBS News has been “a distraction” for him during what should be a joyful occasion,
Faber asked a follow-up: “Is it a distraction? I mean, interesting to note you announced your new big deal. It’s the first few questions yesterday. Is it a political liability? Is it going to take up way too much of your time, given its importance to the company overall? I’m talking CBS News here specifically.”
Ellison hit back with the key takeaway and hope for the future of journalism at CBS News that isn’t virulently partisan and instead not “politiciz[ing] the company”:
[W]hat I would say from that standpoint is I think we’ve been really clear in terms of our dedication to news and independent journalism, but what I will also say and — look, I think this is important and this is just — I’ll talk to me personally. Our number one job is to entertain and inspire audiences around the world and, with respect, I don’t believe that that means that they want us to inject politics into everything we do. I actually think they want the opposite. And so, from that standpoint, we just believe that if you’re breathing your audience and we don’t intend to politicize the company.
Despite the vast access on Thursday to Ellison and his top lieutenants in the form of a 45-minute press conference, Status founder and liberal media cartoon character Oliver Darcy was there and blasted him in a Thursday night post (click “expand”):
Naturally, the assembled group of journalists didn’t ignore the elephant in the room, and the first was about Donald Trump. Specifically, whether Ellison, the Silicon Valley tech scion, had cut a secret side deal to air upwards of $20 million worth of public service announcements for causes Trump supports. Ellison responded by distancing himself from Paramount’s widely-criticized $16 million settlement over a “60 Minutes” segment, noting it had been handled by a mediator under previous leadership. The company has complied with all laws, including anti-bribery statutes, he added.
Of course, that non-answer didn’t satisfy the press corps. A reporter flatly followed up by asking: “Do you have a deal with Donald Trump to give him free...advertising air time? Is that true?" It was a yes or no type question, but Ellison did not answer it in such a manner. The Oracle heir instead insisted he wouldn’t “politicize” anything, saying he wanted Paramount to appeal to “everyone,” and that he’d already been “clear” on the matter—though he obviously hadn’t.
Still, he deserves credit for facing unscreened questions for roughly 45 minutes. But on Trump and politics, his answers danced around specifics. When I had the chance to ask a question, I first pressed Ellison and his team to go on the record committing not to meddle with “60 Minutes.” Then I asked Ellison what he made of Trump’s repeated attacks on journalists—including his own talent, like Gayle King—now that he is the proud owner of a storied news organization.
Ellison, who appeared genuinely enthusiastic about taking the reins of the company, pointed to his history of backing talent at Skydance, including Tom Cruise and various filmmakers. He then said he wanted to “move past the noise” of the recent merger saga, and not dwell on “how certain things are politicized.”
“Of course we believe in the impacts of journalism,” he said. “We believe in the trust business. We believe in the truth business. But I have watched others wade into the political spectrum, and I just want to be transparent: I have no interest in doing that.”
Ellison had also told the audience Thursday that he wants a CBS News for all Americans, but Darcy predictably didn’t want to see half the country as human:
On CBS News, he said he wants its journalism to appeal to a broad audience, including “center-right” viewers. He said half of his family is made up of Democrats and half of them are Republicans, and he wants them all to have a news outlet that they can trust. I asked whether that was even possible in today’s environment, pointing out that even Rupert Murdoch’s Wall Street Journal has come under fire from Trump. Ellison said he would try.
To see the relevant CNBC transcript from August 8, click “expand.”
CNBC’s Squawk on the Street
August 8, 2025
10:25 a.m. Eastern[ON-SCREEN HEADLINE: CNBC Exclusive; David Ellison on CBS News Strategy]
DAVID FABER: We’re going to move on to CBS News for a second, because it was interesting to note yesterday, the first three or more questions from your press availability were all about CBS News. Let me — let me get your response to this. Commissioner Gomez on the FCC put a press release out yesterday in which she said CBS now has “a government-sanctioned truth arbiter...Their role will be to ensure that journalists at CBS do not criticize this administration or express views that conflict with its agenda.” I’d love you to respond to that criticism from the FCC Commissioner.
DAVID ELLISON: So — so that’s just — very respectfully, not — to the commissioner, just the very opposite of accurate. I mean, when it comes to — to news, and one of the things I’m truly dedicated towards is being in the truth business and being in the trust business. I think when you think about the legacy of CBS News and 60 Minutes, the home of Walter Cronkite, it’s a storied legacy that we intend to honor and carry forward. And, you know, and also, when you think about the ombudsman, that’s which was obviously what —
FABER: What is what she’s referring to there. Yes, yes.
ELLISON: — so, so, so by the way, it is not that. It is a vehicle for transparency, not oversight and it basically is a way for both external and internally for people to provide feedback and then that gets reported up to the president of Paramount, Jeff Shell. It doesn’t get reported anywhere else.
FABER: Is it a distraction? I mean, interesting to note you announced your new big deal. It’s the first few questions yesterday. Is it a political liability? Is it going to take up way too much of your time, given its importance to the company overall? I’m talking CBS News here specifically.
ELLISON: Look, what — what I would say from that standpoint is I think we’ve been really clear in terms of our dedication to news and independent journalism, but what I will also say and — look, I think this is important and this is just — I’ll talk to me personally. Our number one job is to entertain and inspire audiences around the world and, with respect, I don’t believe that that means that they want us to inject politics into everything we do. I actually think they want the opposite. And so, from that standpoint, we just believe that if you’re breathing your audience and we don’t intend to politicize the company.