Shari Redstone, chair of Paramount, has decided to sell her family's media empire, a move detailed in recent interviews including coverage by The New York Times. The decision follows a settlement between Paramount and former President Donald Trump over a lawsuit against CBS News, which Redstone described as baseless but acknowledged that Trump had a point about the need for more balance. This settlement has drawn criticism from some CBS News staff and observers, with some viewing Redstone's public statements as a carefully managed public relations effort. Meanwhile, philanthropic organizations including the Knight Foundation and the Ford Foundation have launched the Public Media Bridge Fund, committing over $26.5 million to support public broadcasting stations affiliated with the Corporation for Public Broadcasting (CPB) to prevent closures and revitalize public media such as PBS and NPR. The fund aims to stabilize and support public radio and television stations amid ongoing financial challenges. The developments around Redstone's sale, the Paramount-Trump settlement, and the new public media funding initiative highlight ongoing shifts and tensions in the U.S. media landscape.
New @JamesStewartNYT: Why Did Shari Redstone Give Up Control of Paramount? - The New York Times https://t.co/u7NPTBRScK
New: 'Philanthropic Organizations' Inadvertently Prove the Point About Defunding Public Radio and TV https://t.co/Q3ddPxiYQa
Comments in this story are pretty harsh on Shari Redstone. Here's one: "Reads very much like a carefully prepared P.R. effort by Shari Redstone. Her intentions were always the best, she was never responsible for any negative consequences.... Strong undercurrent of victimhood."