US FCC approves $8.4 billion Paramount-Skydance merger, ending months of turmoil
The FCC's approval came after Skydance and RedBird made promises to maintain journalistic integrity and fairness. The companies said they are committed to showing a wide range of views in their media coverage.In support of that, Skydance will designate an impartial individual to investigate complaints of editorial bias, known as an ombudsman. The purpose of this action is to guarantee openness and foster viewer trust.FCC Chairman Brendan Carr said, "Skydance's commitment to make significant changes at the once-storied CBS broadcast network is welcomed. The new company has made written commitments to ensure its programming includes viewpoints from across the political and ideological spectrum."CHANGES IN PARAMOUNT'S POLICIESParamount terminated its diversity, equity, and inclusion (DEI) initiatives as part of the agreement. This modification supports the Trump administration's stance that these kinds of policies are unjust. This action, according to Carr, is a step in the right direction towards ending "invidious forms of DEI discrimination."The decision to approve the merger was made in a 2-1 vote. Democratic Commissioner Anna Gomez was the only one to oppose it. She strongly criticized the deal, calling it harmful to press freedom and public interest."After months of cowardly capitulation to this Administration, Paramount finally got what it wanted," Gomez said. "Unfortunately, it is the American public who will ultimately pay the price for its actions."She added, "Even more alarming, it is now imposing never-before-seen controls over newsroom decisions and editorial judgment, in direct violation of the First Amendment and the law."David Ellison, CEO of Skydance and son of Oracle co-founder Larry Ellison, is expected to become the chairman and CEO of the new Paramount. Jeff Shell, who used to lead NBCUniversal, will serve as the new president.This deal also signals the end of the Redstone family's long involvement with Paramount. Sumner Redstone had turned a chain of drive-in theaters into a powerful media company that once included TV, film, radio, and publishing.advertisementHis daughter, Shari Redstone, became Paramount's chair in 2019 after reuniting CBS and Viacom, hoping to make the company stronger against rising competition from global entertainment giants. In recent years, Paramount has lost billions in market value as it struggled to keep up with the fast-changing world of streaming.- EndsWith inputs from Agencies Must Watch
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Time of India
29 minutes ago
- Time of India
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Time of India
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- Time of India
Strategic Misstep: 20 national security experts write letter to Donald Trump administration, want America to STOP sale of these Nvidia chips to China
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Time of India
40 minutes ago
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China says AI risks becoming "exclusive game" as Beijing proposes global body
FILE - A Chinese flag flies from a ship at the Port of Oakland on Tuesday, April 15, 2025, in Oakland, Calif. (AP Photo/Noah Berger,File) Chinese Premier Li Qiang called for the establishment of a global artificial intelligence cooperation organization on Saturday, positioning Beijing as an alternative to Washington's AI dominance just days after President Trump unveiled his low-regulation AI strategy. Speaking at the World Artificial Intelligence Conference in Shanghai, Li warned that AI risks becoming "an exclusive game for a few countries and companies." The premier emphasized China's commitment to open-source AI development and promised to share technological advances with developing nations, particularly in the Global South. Li's proposal comes as the world's two largest economies engage in escalating technological competition, with AI emerging as a critical battleground. Beijing challenges US tech restrictions Without explicitly naming the United States, Li criticized what he described as technological monopolies and restrictions on AI development. His remarks directly counter the Trump administration's AI Action Plan released Wednesday, which aims to maintain American supremacy in artificial intelligence while limiting access to advanced technologies, according to Reuters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals Undo Washington has imposed strict export controls on high-end AI chips from companies like Nvidia and advanced chipmaking equipment, citing national security concerns about China's military capabilities. Despite these restrictions, Chinese companies including Huawei continue developing AI systems to compensate for limited access to American technology. Global framework needed for AI governance, says Chinese Premier Li stressed the urgent need for international coordination on AI governance, describing current global efforts as "fragmented" with significant differences in regulatory approaches between countries. The three-day Shanghai conference brings together industry leaders and policymakers from over 30 nations, including Russia, South Africa, Qatar, South Korea, and Germany. China's Vice Foreign Minister Ma Zhaoxu revealed plans to potentially headquarter the proposed organization in Shanghai while promoting pragmatic AI cooperation. The initiative includes establishing cross-border open-source communities and facilitating international technology exchanges, positioning China as a leader in global AI governance amid growing concerns about the technology's ethical implications and security risks. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
