Third Quarter 2025 Shareholder Letter, furnished with Form 8-K

Reporting cited here

1. documented

   After the Paramount-Skydance combination approved under Trump-designated FCC Chairman Brendan Carr closed, Paramount acquired The Free Press and made co-founder Bari Weiss editor-in-chief of CBS News, where Paramount said she would shape editorial priorities and report directly to chief executive David Ellison; The Free Press retained its own brand and operations.

   Completed-tense acquisition and current CBS News role in Q3 shareholder letter

   Paramount acquired The Free Press and installed its founder at CBS News · Acquisition completed; editorial appointment in effect