Free Trial

CBS News CEO Wendy McMahon quits as potential Trump lawsuit settlement looms

Wendy McMahon attends The Hollywood Reporter's annual Most Powerful People in Media issue celebration in New York on May 17, 2022. (Photo by Evan Agostini/Invision/AP, File)

Key Points

  • Wendy McMahon resigns as CBS News CEO after four years, citing fundamental disagreements with the company’s direction, particularly over a potential settlement with President Trump’s lawsuit.
  • President Donald Trump has sued CBS over a “60 Minutes” interview with Kamala Harris, and Paramount Global is in talks to possibly settle the case amid ongoing denials from CBS News.
  • Paramount co-CEO George Cheeks announced that CBS News president Tom Cibrowski and CBS Stations president Jennifer Mitchell will now report directly to him, marking a leadership shakeup.
  • Controlling shareholder Shari Redstone expressed displeasure with coverage of the Israel-Gaza war, prompting new oversight on “60 Minutes” stories and contributing to the resignation of its executive producer.
  • MarketBeat previews top five stocks to own in June.

CBS News CEO Wendy McMahon said Monday that she is resigning after four years, the latest fallout at the network as its parent company considers settling a lawsuit with President Donald Trump over a “60 Minutes” interview with his former political opponent.

McMahon, who has led both the network news division and news for the CBS-owned stations, said in an email message to staff that “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.”

McMahon has made clear she opposes settling with Trump — just like “60 Minutes” executive producer Bill Owens, who quit last month.

Trump has sued CBS, alleging it edited an interview with 2024 Democratic opponent Kamala Harris last fall to benefit her. CBS News has denied that. CBS' parent company, Paramount Global, is in talks to potentially settle Trump's lawsuit. At the same time, Paramount Global is seeking administration approval of a merger with Skydance Media.

George Cheeks, co-CEO of Paramount and head of the CBS network, said McMahon's top deputies, CBS News president Tom Cibrowski and CBS Stations president Jennifer Mitchell, will report directly to him.

McMahon, in her note, said that “the past few months have been challenging.”

“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,” she said.

In addition to the tussle with Trump, Paramount's controlling shareholder, Shari Redstone, has expressed unhappiness over some network coverage of Israel's war in Gaza, including a “60 Minutes” piece this winter. Paramount began supervising “60 Minutes” stories in new ways, including asking former CBS News President Susan Zirinsky to look over some of its stories before they aired.

That extra layer contributed to Owens' resignation. One of the show's correspondents, Scott Pelley, said on the air that “none of us is happy” about the changes.

CBS News is also trying to establish the new anchor team of John Dickerson and Maurice DuBois at its flagship “CBS Evening News” broadcast amid ratings troubles.

In his note to staff members, Cheeks praised McMahon for expanding local news at CBS stations and improving their competitive positions, along with improving the network's digital offerings.

Despite the internal tensions, the “60 Minutes” broadcast has done several notably tough stories on the Trump administration, and it has drawn the ire of the president. He attacked the show after one episode in April. “Almost every week, 60 Minutes ... mentions the name ‘TRUMP’ in a derogatory and defamatory way,” the president said on social media.

On Sunday's season finale of “60 Minutes,” a story that had been scheduled and publicly announced about cutbacks at the Internal Revenue Service was not aired. A spokeswoman said it was because on Friday, CBS learned that IRS leadership had told senior staff that it had decided to call some 7,000 probationary employees back to work.

CBS said it would continue to report on the details and broadcast the story some time in the future.

A Trump settlement with Paramount has precedence. The Walt Disney Co. decided in December to pay $15 million to end a Trump libel lawsuit against ABC News over a statement made by the network's George Stephanopoulos regarding a sexual assault case against Trump.

The new administration has been battling with the media over several fronts, including:

—Engaging in a court fight with The Associated Press over curtailing access because the agency has not followed Trump's wishes to rename the Gulf of Mexico.

—Making efforts to shut down government-run news services like the Voice of America.

—Cutting funding to public broadcasting.

___

David Bauder writes about media for the AP. Follow him at http://x.com/dbauder and https://bsky.app/profile/dbauder.bsky.social.

Where Should You Invest $1,000 Right Now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

A Guide To High-Short-Interest Stocks Cover

MarketBeat's analysts have just released their top five short plays for May 2025. Learn which stocks have the most short interest and how to trade them. Enter your email address to see which companies made the list.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Magnificent 7 Stocks Shift Toward Stability and Selective Growth
4 Biotech Stocks on the Verge of Massive Breakthroughs
New AI Deals Just Sent These 4 Infrastructure Stocks Soaring

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines