Paramount’s $8 Billion Merger with Skydance Receives FCC Approval Amid Controversy
By Wyatt Grantham-Philips, Associated Press
NEW YORK (AP) — Federal regulators approved Paramount’s $8 billion merger with Skydance on Thursday, allowing the high-profile deal to proceed amid significant political and legal controversy. This merger comes on the heels of a settlement in which Paramount agreed to pay $16 million to Donald Trump, who had sued CBS over its “60 Minutes” interview with Kamala Harris. Critics have denounced the settlement as an attempt to appease Trump, raising questions about editorial independence at CBS, particularly after the abrupt cancellation of Stephen Colbert’s “Late Show.”
FCC Chairman Brendan Carr praised the merger, emphasizing it could restore trust in CBS’s news operations. With plans to hire an ombudsman and commit to diverse viewpoints, Skydance’s leadership expresses a desire for a transformative path focused on modernizing the Paramount+ streaming service. Despite concerns over editorial integrity, the merger is now on a fast track to be finalized, with the combined entity projected to hold substantial value in the competitive entertainment landscape.
As the media landscape evolves, industry figures anticipate significant organizational changes, including a tech-oriented shift led by Skydance’s David Ellison amidst growing public skepticism about national news media reliability.
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