Wendy McMahon to Step Down as President of CBS News and Stations
In an email to staffers she said, "it's become clear that the company and I do not agree on the path forward. It's time to move on and for this organization to move forward with new leadership."
Variety said her departure may signal that that Paramount intends to settle its legal conflict with Trump, even if doing so will undermine 60 Minutes and the news division.
Trump sued CBS, alleging it edited an interview with 2024 Democratic opponent Kamala Harris last fall to benefit her.
McMahon felt in recent weeks that Paramount was increasingly encroaching on the news division, according to a person familiar with the matter, and grew weary of having to fend off the corporation's executives. "It's become clear that the company and I do not agree on the path forward," McMahon said in a memo to staffers Monday. "It's time for me to move on and for this organization to move forward with new leadership. I have spent the last few months shoring up our businesses and making sure the right leaders are in place; and I have no doubt they will continue to set the standard."McMahon joined CBS in 2021. Before that, she oversaw the ABC Owned Television Stations Group. In 2023, when she was given sole oversight over CBS News and local stations.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
24 minutes ago
- Yahoo
Trump's tariffs on Canada might be here to stay, U.S. Secretary of Commerce says
With less than two weeks to go for Canada to make a trade deal with the U.S., Prime Minister Mark Carney and the nation's premiers are set to tackle the issue during a three-day meeting in Ontario. As Mackenzie Gray reports, Trump's commerce secretary is making it clear the U.S. is firmly committed to imposing substantial levies if American demands are not met.
Yahoo
24 minutes ago
- Yahoo
Shareholders in Metis Energy (SGX:L02) are in the red if they invested three years ago
Metis Energy Limited (SGX:L02) shareholders should be happy to see the share price up 23% in the last month. But that doesn't change the fact that the returns over the last three years have been less than pleasing. In fact, the share price is down 44% in the last three years, falling well short of the market return. With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Because Metis Energy made a loss in the last twelve months, we think the market is probably more focussed on revenue and revenue growth, at least for now. Shareholders of unprofitable companies usually desire strong revenue growth. That's because fast revenue growth can be easily extrapolated to forecast profits, often of considerable size. Over the last three years, Metis Energy's revenue dropped 33% per year. That means its revenue trend is very weak compared to other loss making companies. On the face of it we'd posit the share price fall of 13% compound, over three years is well justified by the fundamental deterioration. It would probably be worth asking whether the company can fund itself to profitability. The company will need to return to revenue growth as quickly as possible, if it wants to see some enthusiasm from investors. The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail). You can see how its balance sheet has strengthened (or weakened) over time in this free interactive graphic. A Different Perspective Investors in Metis Energy had a tough year, with a total loss of 23%, against a market gain of about 27%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. On the bright side, long term shareholders have made money, with a gain of 1.6% per year over half a decade. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Even so, be aware that Metis Energy is showing 4 warning signs in our investment analysis , and 2 of those are a bit unpleasant... But note: Metis Energy may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast). Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Singaporean exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New York Post
25 minutes ago
- New York Post
NY awarded more than $600M to ‘sanctuary' groups helping defy Trump, federal immigration law
Legal and migrant advocacy groups fighting to block New York from helping the Trump administration enforce US immigration laws have been awarded more than $600 million in taxpayer dollars from the city and state governments, a Post review of contracts revealed. The Bronx Defenders alone has received more than $500 million in city contracts since fiscal year 2018 to provide a host of legal services to poor criminal and civil defendants, including migrants, according to a review of contracts from 2009 to the present. 7 The Bronx Defenders alone has received more than $500 million in city contracts. The Bronx Defenders/ Facebook And the legal aid group raked in another $32 million from the state over the years, records kept by the state comptroller's office show. Other groups were also funneled big bucks as they worked to undermine federal immigration policy, including Make the Road NY — which received $56 million to provide legal, health and other services mostly to immigrants, state and city contract records. The group helped organize a rally at the state Capitol last month urging passage of a sanctuary bill as rally goers chanted, 'No hate, no fear. Immigrants are welcome here.' 7 The legal aid group raked in another $32 million from the state over the years. X / @thenyic The New York Immigration Coalition received $46 million. 'New York City should not be in the business of carrying out Donald Trump's mass disappearance agenda, which is in fact illegal under our local laws,' said Murad Awadeh, executive director of the NYICC, on his X handle @HeyItsMurad. Awadeh also reposted an interview he did with New York Public News Network on May 30. 'Sanctuary policies are public safety measures,' he said. 'They encourage people to participate within our society so that they're able and comfortable enough to report things that are happening and without them, a lot of people won't do that, because they are fearful, and rightfully fearful, especially in the world that we're living in today, that they may end up entrapped in this ICE enforcement that's happening.' 7 Portrait of Murad Awawdeh, CEO of the New York Immigration Coalition. X / @HeyItsMurad Additionally, New Yorker Lawyers for the Public Interest received $19 million, including about $5 million from 2022 to present, city and state records show. The Bronx Defenders have been part of a wider push for a statewide sanctuary bill — the New York for All Act — that would bar state and local law enforcement from cooperating with US Immigrations and Customs Enforcement agents. That would include assisting in providing information, turning over or deporting illegal immigrants. Another bill with a push from activists called the Dignity not Detention Act would ban local jails from renting space to ICE to increase their detention capacity for suspected illegal migrants. 7 The New York Immigration Coalition received $46 million. Robert Mecea 'State leaders are not powerless against the federal administration's mass deportation agenda,' the Bronx Defenders said in a June 11 statement on X. 'We have a couple ideas: pass New York For All and Dignity Not Detention now, before it's too late.' The state Senate adjourned for the summer without passing either of the bills. Passage could become a political liability for Democrats who control the state government and US House of Representatives members who are running for office next year, including Gov. Kathy Hochul. 7 New Yorker Lawyers for the Public Interest received $19 million, including about $5 million from 2022 to present. X / @MaketheRoadNY Meanwhile, New York City is slated to spend $75 million on immigration legal services in its new budget, under a spending agreement approved by Mayor Eric Adams and the City Council. That spending plan includes $41.9 million in free legal assistance for migrants facing deportation But politicians who back President Trump's crackdown on illegal immigration fumed that groups helping break federal immigration law are receiving massive taxpayer funding. 'Non-governmental organizations that help shield criminals from deportation should not receive a single penny,' said Rep. Nicole Malliotakis (R-Staten Island/Brooklyn). 7 New York City is slated to spend $75 million on immigration legal services in its new budget. Robert Mecea 'While I don't have much faith in Governor [Kathy] Hochul and New York Democrats to stop funding left wing groups who work against law enforcement and the interests of citizens, we're taking decisive action on the federal level to end the Biden-Schumer gravy train of years past and put that money towards border security and enforcement to get foreign gangs and criminals out.' Staten Island Borough President Vito Fossella said, 'Hundreds of millions of dollars are being spent to undermine public safety and our immigration laws. They are fighting to protect those who are dangerous criminals. 'It's a poke in the eye to hard working taxpayers. Is the money well spent?. The answer is no.' 7 Politicians who back Trump's crackdown on illegal immigration fumed that groups helping break federal immigration law are receiving massive taxpayer funding. X / @MaketheRoadNY State Conservative Party chairman Gerard Kassar: 'There is no excuse for New York authorities not to cooperate with federal authorities. New Yorkers should not be spending hundreds of millions of dollars on groups fighting to keep illegal aliens in the United States.' The staggering tally comes after an off-duty US Customs and Border Protection agent was shot in the face in New York City during a robbery — with the shooter allegedly an illegal migrant. President Trump also ripped Democrats for flooding 'our Nation with Criminal Invaders.'
