The Daily Mail reported that Wendy McMahon has decided to step down from her role as CEO of CBS News. This follows internal disagreements over the network's business direction and the ongoing $20 billion lawsuit filed by former President Donald Trump.
McMahon's departure comes amidst significant executive turnover and declining ratings within CBS News.
McMahon announced her resignation on Monday, marking a turbulent period for CBS News. She expressed discontent with the network's current trajectory, emphasizing her misalignment with recent business decisions. Her exit was first reported by The New York Times, three months after speculation about her potential removal had surfaced.
Central to the turmoil at CBS News is the lawsuit initiated by Donald Trump regarding a "60 Minutes" interview with Kamala Harris. The suit amounts to $20 billion and alleges deceptive editing of the interview. CBS maintains that edits were necessary due to time restrictions.
Both McMahon and Bill Owens, previously at the helm of "60 Minutes", opposed proposals to resolve the lawsuit. They were joined by Shari Redstone from CBS's parent, Paramount, in settlement discussions, highlighting the contentious nature of the case within the company.
In an internal memo, McMahon described her tenure as a valuable chapter of her career, while acknowledging the difficult circumstances that have affected the network. She thanked her colleagues for their passion and dedication.
McMahon's leadership at CBS News was marked by a worrying dip in viewership, particularly among the demographic aged 25-54. Her initiatives, which featured magazine-style elements introduced to the CBS Evening News, failed to resonate with the audience, leading to a ratings decline.
Amid these challenges, rumors of discord between McMahon and then-deputy Adrienne Roark emerged, with Roark resigning after a brief tenure. Insiders suggested neither McMahon nor Roark possessed the necessary editorial experience for their roles at CBS.
The executive turnover at CBS News is further underscored by the earlier departures of Neeraj Khemlani and Susan Zirinsky, contributing to a period of instability in leadership.
Meanwhile, a potential media merger between Paramount and Skydance is on the horizon, awaiting approval from the Trump administration. This development may affect both CBS's strategic direction and its legal battles.
Following McMahon's resignation, George Cheeks, Co-CEO of Paramount Global, will temporarily oversee CBS News operations. McMahon's former deputies will now report directly to Cheeks, as the network seeks stable leadership amid ongoing challenges.
In her farewell memo, McMahon expressed gratitude for the chance to lead CBS News, saying, "To George: Thank you for this opportunity." She also extended her thanks to CBS's viewers, emphasizing the role of accountability and trust in journalism.
Bill Owens expressed admiration for McMahon's dedication to her team, despite the obstacles she faced during her tenure. "Fighting for her team week by week," he noted, underscoring the struggles with which McMahon contended.
As CBS News navigates this period of transition, industry watchers will closely follow whether the network's strategic adjustments can reverse declining ratings and resolve its legal entanglements. In closing her memo, Wendy McMahon remarked on the privilege of leading such an "extraordinary organization," reflecting on the professional challenges and rewarding experiences made during her time with CBS News.
