Ex-‘60 Minutes’ boss Bill Owens wants to launch – Business News
A former boss of “60 Minutes” wants to launch a rival information collection with Scott Pelley and different correspondents and producers who’ve not too long ago exited the long-lasting show — however insiders are skeptical about whether or not it may possibly get off the ground, The Post has realized.
Bill Owens – who resigned final 12 months as “60 Minutes” govt producer amid a dustup between CBS and President Trump over how a Kamala Harris interview was edited – is wanting to raise round $50 million to fund two years’ value of in-depth and investigative information segments, sources with information stated.
The lump sum Owens is in search of would bankroll every thing from staffing and manufacturing to advertising and marketing and legal, sources added. Still, for the concept to work, former “60 Minutes” journalists would probably be compelled to take a drastic pay cut.
Former “60 Minutes” govt producer Bill Owens is wanting to launch a streaming information magazine, sources stated. Getty Images for Writers Guild of America East
“I think they’re asking for too much money,” a source familar with the plan stated. “They’re looking at the old ’60 Minutes’ model and they’re all used to mega salaries.”
A source close to Owens denied the plans.
Still, some insiders speculated that a “60 Minutes”-style enterprise may probably capitalize on current upheaval on the 57-year-old show after CBS News Editor-in-Chief Bari Weiss cleaned home in current months.
A second source stated Owens is angling to enlist the bombastic Pelley, who was fired in June after he tore into Weiss, claiming she was “murdering ‘60 Minutes” during a workers assembly.
Indeed, there was chatter that Pelley’s scorched-earth exit – through which he additionally slammed the show’s new govt producer Bilton, telling him he’d “never be welcomed” – was partly a ploy to gin up buzz forward of an upcoming enterprise.
“60 Minutes’” new govt producer Nick Bilton has been scrambling to rebuild the show earlier than it goes to air in September. Joshua Blanchard
Owens may additionally faucet different fired “60 Minutes” staffers together with ex-correspondents Sharyn Alfonsi and Cecilia Vega, former govt producer Tanya Simon and senior producers Guy Campanile and Draggan Mihailovich and Matthew Polevoy, a source with information stated.
Owens declined to remark. Other former “60 Minutes” staffers couldn’t be reached for remark.
As The Post reported final week, the show’s new govt producer Nick Bilton has struggled to rent senior producers and has used interviews with potential candidates as “therapy sessions” to vent about his own work situations.
Last week, Bilton introduced 4 “new faces” coming to “60 Minutes” — Ross Douthat, Sebastian Junger, Gianna Toboni and Trevor Phillips, in addition to longtime CBS News journo Norah O’Donnell. Some of the hires have been met with skepticism over their broadcast TV {qualifications}.
Owens shopped the concept of a rival show earlier this 12 months, however hit some snags — together with securing money and a platform, sources close to the scenario stated.
Fired “60 Minutes” correspondent Scott Pelley has been rumored to be working with Owens on the new enterprise. AFP through Getty Images
In current weeks, nevertheless, fired “60 Minutes” staffers have put collectively a business plan and pitch deck. The outdated gang is hoping to produce a documentary-style program for streaming and probably digital platforms, in accordance to sources.
“Rather than a chat show, it will be deeply reported, similar to ‘60 Minutes’,” a source stated.
Still, Owens and his colleagues face a main drawback — specifically the stiff prices of producing a “60 Minutes”-type program and the problem of convincing deep-pocketed streamers like Netflix, Apple and YouTube — and even a TV community like NBC — to foot the invoice.
“There isn’t a huge appetite,” from main streaming platforms or broadcast networks, stated one TV agent.
Owens will probably faucet fired correspondents Sharyn Alfonsi and Cecilia Vega (middle left and middle proper), in addition to former govt producer Tanya Simon (proper). CBS through Getty Images
Insiders have speculated that a prime goal for the collection can be Netflix, the possible archrival to CBS proprietor Paramount Skydance and its pending, $110 billion merger associate Warner Bros Discovery, the proprietor of HBO Max.
“There’s no clamoring on the Netflix side for overall news,” stated one former streaming exec. “But for a tightly done show that isn’t too expensive, maybe it could work.”
Pivot podcast co-host Scott Galloway has been vocal on his show about why Netflix ought to rent Pelley and different former “60 Minutes” to create their own model, citing the show’s success.
“If I were [Netflix CEO] Ted Sarandos, I would call Scott Pelley and Anderson Cooper, pay them $10 million each, you hire whoever the f you want, including an executive producer and Netflix will put something out called. ‘The Hour,’” he stated not too long ago.
CBS News Editor-in-Chief Bari Weiss is revamping “60 Minutes” and has been cleansing home as half of that effort. CBS News through AP
If Owens isn’t ready to ink a hefty deal with a streamer, he’ll need to put together to make his show on a shoestring funds, stated one source who works within the digital video space. Building an viewers of subscribers — a notoriously troublesome prospect — can be additionally important to success, the particular person added.
On YouTube, a video with 1 million views usually earns round $5,000 in promoting income. One million subscribers can convey in upwards of $1 million a 12 months, and sponsorships can meaningfully increase that quantity relying on the sponsor.
Owens’ efforts come as Weiss has decimated the show’s workers in a bid to replace this system and tackle criticisms that it was marred by left-wing bias.
Pelley had griped that his bosses had been making an attempt to intrude together with his stories and insert “political bias.” CBS News denied Pelley’s claims and stated the edits had been half of the traditional journalistic course of between correspondent and editor.
Four of the seven correspondents from final season’s “60 Minutes” exited this system. CBS through Getty Images
Although Owens give up “60 Minutes” final 12 months – earlier than Weiss’ arrival – he too complained about interference from greater ups.
The exec give up the lofty gig final 12 months when the show’s father or mother company Paramount was settling a lawsuit in opposition to President Trump over claims of “deceptive editing” of an interview with Harris that aired days earlier than the November 2024 presidential election.
As beforehand reported by The Post, Bilton has been stewing over how he was handled by Pelley and the workers, who applauded the correspondent for standing up to the new boss.
Sources advised The Post that Bilton’s lack of TV expertise is a key subject with higher-ups at CBS, who’ve expressed considerations that he has “big ideas” however lacks the “skills to get things done,” which has some worrying in regards to the show’s September debut.
But there’s no guarantee an Owens-led “60 Minutes” knockoff will likely be a success.
One source pointed to CBS’ attempt to rival HBO’s acclaimed “Real Sports with Bryant Gumbel” with “60 Minutes Sports,” which it launched in 2013 with Showtime. The show in the end shuttered in 2017, after failing to construct a massive enough viewers.
“Real Sports,” the sports activities documentary show ended its 29-year-run in 2023 when Gumbel retired.
