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Paramount Faces $50M Loss: Major Cuts Ahead

8/22/2025

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Summary

Story summary

CBS News is losing $50 million annually, leading incoming CEO David Ellison to suggest major cuts.
Paramount has canceled "The Late Show with Stephen Colbert," which incurred a $40 million yearly loss.
Experts expect significant cost-cutting measures under Ellison and Paramount president Jeff Shell's leadership.

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Story summary

CBS News is losing $50 million annually, leading incoming CEO David Ellison to suggest major cuts.
Paramount has canceled "The Late Show with Stephen Colbert," which incurred a $40 million yearly loss.
Experts expect significant cost-cutting measures under Ellison and Paramount president Jeff Shell's leadership.