ARLINGTON, VA. — It was a conversation topic across Upfront Week in New York last week and even discussed among some industry leaders during the 2025 NAB Show in early April.
With Skydance Media’s acquisition of Paramount Global’s lead investor, National Amusements, Inc., and a merger awaiting FCC approval amid “news distortion” complaints lobbed at CBS, what would the future bring for Wendy McMahon.
As Chief Financial Officers for broadcast media’s biggest companies gathered in the shadow of Washington, D.C., at the Media Finance Management conference on Monday, an internal memo sent by McMahon to staff yielded the answer that is not wholly unexpected: she’s stepping down as President/CEO of CBS News and Stations and CBS Media Ventures.
In the memo, McMahon explained, “This has bee one of the most meaningful chapters in my career. Leading this extraordinary organization has been the honor of a lifetime because I got to work alongside all of you. Your commitment to truth, fairness and the highest standards is unassailable.”
She continued, “Championing and supporting the journalism produced by the most amazing stations and bureaus in the world, celebrating the successes of our shows and our brands, elevating our stories and our people … it has been a privilege and joy.”
At the same time, McMahon acknowledged, “the past few months have been challenging. It’s become clear that the company and I do not agree on the path forward. It’s time for me to move on and for this organization to move forward with new leadership.”
“The past few months have been challenging. It’s become clear that the company and I do not agree on the path forward.” — Wendy McMahon
McMahon noted how she has spent the last few months “shoring up our businesses and making sure the right leaders are in place,” adding that she has no doubt they will continue to set the standard.
McMahon, who was appointed President and co-head of CBS News and Stations in May 2021, was promoted to her most recent role in August 2023.
Before joining CBS, McMahon was President of ABC Owned TV Stations and SVP of ABC Digital. In addition to ABC, she has held TV station roles at LIN Media, Graham Media Group and Raycom Media.
McMahon’s exit comes following the departure earlier this year of Adrienne Roark from CBS News and Stations, where she served as President of Editorial and Newsgathering, to become TEGNA’s next Chief Content Officer. Then, there is the exit of Ingrid Ciprian-Matthews as CBS News President, which was announced in July 2024.
What does this mean for CBS News and Stations leadership now?
George Cheeks, the co-CEO of Paramount Global and president and CEO of CBS, sent his own e-mail to staff. The memo, obtained by Deadline, says that CBS News President Tom Cibrowski and CBS Stations President Jennifer Mitchell would now report to him. Cheeks added that McMahon would be with the network for a few more weeks “to support the transition.”
