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The Herridge Foundation

Catherine Herridge
The true catalyst for this budding public relations nightmare has more to do with mutual antipathies and personal vendettas than with any legitimate attempt by CBS News to seize Herridge’s documents. Photo: Shedrick Pelt/Getty Images
Dylan Byers
February 23, 2024

Earlier this month, Shari Redstone’s Paramount Global laid off some 800 employees across the organization—a regrettable but inevitable cost-cutting exercise for a once-venerable legacy mediaco that has struggled to keep pace in the Netflix era, seen its market value depreciate by 75 percent in half a decade, and is now desperately looking for a buyer. Warren Buffett, the company’s largest shareholder, recently unloaded a third of his stock, leaving him with a rare loss. Presumably, he would sell more if it wouldn’t further chill the equity and diminish the rest of his position.

Macroeconomic challenges, of course, magnify even micro-scandals and headaches. Among those aforementioned 800 employees, for instance, were 20 journalists at CBS News, which faces an uncertain future in the post-linear era, despite its proud legacy as the House of Cronkite. And among those 20 journalists was one Catherine Herridge, a former Fox News investigative correspondent whose exit warranted notice due to her longstanding refusal to reveal sources to a U.S. District Court judge, which has earned her a reputation in certain circles as a First Amendment Warrior.