Neeraj Khemlani, president of CBS News, on the annual White House Correspondents’ Association Dinner in 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 function, in line with a Sunday report from Variety.
Khemlani informed workers in a memo on Sunday he’s leaving his present place for a brand new “multi-year first-look” deal at CBS the place he’ll create content material like documentaries, scripted collection and books, the report stated. In his present function, Khemlani is liable for operating CBS News, its native stations and in style packages like “Face the Nation,” “60 Minutes” and “CBS Evening News.”
“I’m so pleased with what all of you may have achieved — the scores of journalistic wins, the very good storytelling, the creativity that enhanced each facet of our programming — that has put this division on a stronger path ahead,” Khemlani stated within the memo, in line with Variety.
Paramount, which owns CBS, didn’t instantly reply to a request for remark.
It shouldn’t be instantly clear who will succeed Khemlani, however CBS may announce the brand new government as quickly as Monday, Variety stated.
Khemlani started his tenure at CBS in April 2021. Before becoming a member of the community, Khemlani spent greater than 10 years at Hearst, the place he held various management roles like government vp of Hearst Newspapers, president of Hearst Entertainment and Syndication and chief artistic officer.
Khemlani’s departure marks the newest main management shakeup at a information community this 12 months. CNN’s Chris Licht left the corporate in June after he confronted a insurrection among the many community’s expertise and employees.
Media firms have been grappling with a comfortable promoting market, significantly affecting the normal TV enterprise. Networks are additionally gearing up for what is predicted to be one other contentious election cycle in 2024.
As of market shut Friday, shares of Paramount are down round 9.5% 12 months up to now. In the corporate’s earnings report for the quarter ended June 30, Paramount reported income of $7.62 billion for the quarter, down about 2% year-over-year, as the corporate’s TV section was as soon as once more dragged down by decrease promoting income.