Bari Weiss’s Free Press in $250M Acquisition Talks with Skydance: What It Means for Media & Private Equity Trends in 2025
Independent Media Gets a Big‑Ticket Buyer
In one of the most talked‑about developments in the media industry this year, Skydance Media, the entertainment powerhouse led by David Ellison, is reportedly in discussions to acquire The Free Press, the independent media venture founded by journalist Bari Weiss.
Insiders suggest that this potential deal could value The Free Press at up to $250 million, a remarkable leap from its prior estimated valuation of $100 million.
This valuation surge is not just a win for Weiss and her team—it highlights a broader shift in how investors view niche media platforms. Once considered a small player in a crowded digital landscape, The Free Press has proven that audience loyalty and high‑quality, independent content can command major capital in today’s media market.
Why Skydance Wants In
Skydance, known for blockbuster film franchises and strategic expansions in gaming and animation, appears to be doubling down on content diversification. By potentially adding a credible, high‑engagement media platform like The Free Press, the company can expand its storytelling ecosystem beyond entertainment into news and cultural commentary.
This move also underscores a trend: media conglomerates are seeking high‑impact digital platforms that combine niche expertise with engaged subscriber bases.
The Rise of Independent Media in a Declining Traditional Landscape
While legacy media outlets face declining ad revenues and subscription fatigue, independent platforms like The Free Press are building communities around authentic, subscriber‑funded journalism. This has created an appealing business model: low overheads, direct audience relationships, and scalability.
Investors are taking notice. Deals like this are a clear signal that capital is flowing toward digital‑first, independent voices, often seen as more agile and resilient than legacy institutions.
Private Equity: $41B Poured into Continuation Funds
This acquisition news also comes as private equity (PE) activity evolves to adapt to market conditions. In the first half of 2025 alone, over $41 billion has been allocated to continuation funds, which allow firms to hold on to promising portfolio companies for longer.
With IPO activity slowing and traditional exits becoming less attractive, continuation funds are providing a lifeline for both managers and investors. They enable PE firms to keep high‑performing assets in‑house, while also offering liquidity to limited partners seeking returns.
Connecting the Dots: Media & PE Strategies in 2025
Both stories—the Free Press‑Skydance talks and the private equity pivot—reflect larger business trends shaping 2025:
- Diversification is key: Media companies are broadening their portfolios beyond traditional formats.
- Investor appetite is changing: Funds are targeting sustainable, high‑engagement platforms over risky, ad‑dependent models.
- Flexibility wins in private equity: Continuation funds demonstrate how PE firms are innovating amid market uncertainty.
What This Means for Investors & Media Entrepreneurs
For media entrepreneurs, the message is clear: niche, value‑driven platforms with loyal communities are more attractive than ever. For investors, deals like these show where capital is flowing—toward scalable digital platforms and creative funding strategies that mitigate risk.
As the second half of 2025 unfolds, these shifts are expected to influence not just media and private equity, but the broader global business landscape.