By Hannah Miller, Bloomberg

Paramount Skydance Corp. is poised to buy the startup news outlet the Free Press and name its founder, journalist Bari Weiss, as the editor-in-chief of CBS News, according to people familiar with the matter.

The role will allow Weiss to guide the editorial direction of a news organization whose programs include 60 Minutes and CBS News Sunday Morning. Founded in 1927, CBS News has been home to industry legends such as Walter Cronkite and Edward R. Murrow.

Weiss will report directly to Paramount Chief Executive Officer David Ellison, according to the people familiar, who asked not to be identified discussing sensitive information. Terms of the sale weren’t immediately known. The New York Times reported that the acquisition would value the Free Press at around $

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