Neeraj
Khemlani,
president
of
CBS
News,
at
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
role,
according
to
a
Sunday
report
from
Variety.
Khemlani
told
employees
in
a
memo
on
Sunday
he
is
leaving
his
current
position
for
a
new
“multi-year
first-look”
deal
at
CBS
where
he
will
create
content
like
documentaries,
scripted
series
and
books,
the
report
said.
In
his
current
role,
Khemlani
is
responsible
for
running
CBS
News,
its
local
stations
and
popular
programs
like
“Face
the
Nation,”
“60
Minutes”
and
“CBS
Evening
News.”
“I’m
so
proud
of
what
all
of
you
have
accomplished
—
the
scores
of
journalistic
wins,
the
superb
storytelling,
the
creativity
that
enhanced
every
aspect
of
our
programming
—
that
has
put
this
division
on
a
stronger
path
forward,”
Khemlani
said
in
the
memo,
according
to
Variety.
Paramount,
which
owns
CBS,
did
not
immediately
respond
to
a
request
for
comment.
It
is
not
immediately
clear
who
will
succeed
Khemlani,
but
CBS
could
announce
the
new
executive
as
soon
as
Monday,
Variety
said.
Khemlani
began
his
tenure
at
CBS
in
April
2021.
Before
joining
the
network,
Khemlani
spent
more
than
10
years
at
Hearst,
where
he
held
a
number
of
leadership
roles
like
executive
vice
president
of
Hearst
Newspapers,
president
of
Hearst
Entertainment
and
Syndication
and
chief
creative
officer.
Khemlani’s
departure
marks
the
latest
major
leadership
shakeup
at
a
news
network
this
year.
CNN’s
Chris
Licht
left
the
company
in
June
after
he
faced
a
rebellion
among
the
network’s
talent
and
staff.
Media
companies
have
been
grappling
with
a
soft
advertising
market,
particularly
affecting
the
traditional
TV
business.
Networks
are
also
gearing
up
for
what
is
expected
to
be
another
contentious
election
cycle
in
2024.
As
of
market
close
Friday,
shares
of
Paramount
are
down
around
9.5%
year
to
date.
In
the
company’s
earnings
report
for
the
quarter
ended
June
30,
Paramount
reported
revenue
of
$7.62
billion
for
the
quarter,
down
about
2%
year-over-year,
as
the
company’s
TV
segment
was
once
again
dragged
down
by
lower
advertising
revenue.
