Paramount's Blockbuster Merger with Skydance Cleared by FCC
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
The Federal Communications Commission (FCC) on Thursday approved the $8.4 billion merger between Paramount Global and Skydance Media, paving the way for a major shakeup in the entertainment industry. The deal includes the transfer of iconic properties such as CBS, Paramount Pictures, and Nickelodeon. As part of the approval process, the FCC authorized the transfer of broadcast licenses for 28 CBS-owned and -operated television stations to the new ownership group.
The green light followed Paramount's $16 million settlement of a lawsuit filed by President Donald Trump, related to a contentious 60 Minutes interview with former Vice President Kamala Harris that aired in October.
The main gate to Paramount Studios is seen on Melrose Avenue, July 8, 2015, in Los Angeles.
The main gate to Paramount Studios is seen on Melrose Avenue, July 8, 2015, in Los Angeles.
Associated Press
FCC Chairman Brendan Carr clarified that the agency's review of the Paramount–Skydance merger was conducted independently and was not influenced by the civil lawsuit involving President Trump. The merger received approval after Skydance and its financial backer, RedBird Capital, pledged to uphold editorial independence and ensure balanced journalism across CBS and other outlets.
As part of that commitment, Skydance announced it will appoint an ombudsman to address complaints of editorial bias and other concerns, aiming to bolster transparency and public trust. Additionally, Paramount has dismantled its diversity, equity, and inclusion programs to reflect the Trump administration's stance that such initiatives constitute discriminatory affirmative action.
This is a breaking news story. Updates to follow.
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