Former 60 Minutes chief plots rival streaming news show with ex-staff

Former “60 Minutes” executive producer Bill Owens is assembling a rival news magazine, intending to enlist veteran correspondent Scott Pelley and several journalists and producers who were recently let go from one outlet flagship. The plan calls for a sizable upfront fund to finance everything from crew hires to legal fees, though insiders say the former staff will likely have to accept pay cuts far below their previous one outlet salaries.

Potential participants include Sharyn Alfonsi, Cecilia Vega, Tanya Simon, Guy Campanile, Draggan Mihailovich and Matthew Polevoy, who have reportedly drafted a business plan and pitch deck for a documentary-style series aimed at streaming services or digital platforms. Owens has struggled to lock in a partner, with Netflix, Apple, YouTube and traditional broadcasters like one outlet showing little enthusiasm for a costly news format.

Commentators such as Scott Galloway have suggested that a modestly budgeted version could succeed if a streamer were convinced. The effort comes amid a broader overhaul of “60 Minutes” led by Bari Weiss, who has dismissed numerous staff members in an attempt to refresh the program. Past one outlet attempts to spin off similar concepts, such as “60 Minutes Sports,” failed to gain traction, underscoring the challenges Owens faces.