9 months ago
78 Neeraj Khemlani, president of CBS News, astatine the yearly White House Correspondents' Association Dinner successful Washington, U.S., April 29, 2023.
Tom Brenner | Reuters
Neeraj Khemlani, the president and co-head of CBS News and Stations, is stepping down from his role, according to a Sunday study from Variety.
Khemlani told employees successful a memo connected Sunday helium is leaving his existent presumption for a caller "multi-year first-look" woody astatine CBS wherever helium volition make contented similar documentaries, scripted bid and books, the study said. In his existent role, Khemlani is liable for moving CBS News, its section stations and fashionable programs similar "Face the Nation," "60 Minutes" and "CBS Evening News."
"I'm truthful arrogant of what each of you person accomplished — the scores of journalistic wins, the superb storytelling, the creativity that enhanced each facet of our programming — that has enactment this part connected a stronger way forward," Khemlani said successful the memo, according to Variety.
Paramount did not instantly respond to a petition for comment
It is not instantly wide who volition win Khemlani, but CBS could denote the caller enforcement arsenic soon arsenic Monday, Variety said.
Khemlani began his tenure astatine CBS, which is owned by Paramount, successful April 2021. Before joining CBS, Khemlani spent much than 10 years astatine Hearst, wherever helium held a fig of enactment roles similar enforcement vice president of Hearst Newspapers, president of Hearst Entertainment and Syndication and main originative officer.
Khemlani's departure marks the latest large enactment shakeup astatine a quality web this year. CNN's Chris Licht near the institution successful June aft helium faced a rebellion among the network's endowment and staff.
Media companies person been grappling with a brushed advertizing market, peculiarly affecting the accepted TV business. Networks are besides gearing up for what is expected to beryllium different contentious predetermination rhythm successful 2024.
As of marketplace adjacent Friday, shares of Paramount are down astir 9.5% twelvemonth to date. In the company's net study for the 4th ended June 30, Paramount reported gross of $7.62 cardinal for the quarter, down astir 2% year-over-year, arsenic the company's TV conception was erstwhile again dragged down by little advertizing revenue.
