FCC Approves Paramount and Skydance $8B Merger Amid Political Controversy

The Federal Communications Commission has approved the $8 billion merger between Paramount and Skydance, ending a saga filled with political tension and legal controversy. The deal, which faced delays due to a lawsuit filed by President Trump over a CBS “60 Minutes” interview, included a $16 million settlement paid by Paramount. Critics labeled the payment a veiled bribe, especially following CBS’s abrupt cancellation of Stephen Colbert’s show. FCC Chairman Brendan Carr praised the merger for bringing “balance” to media, while dissenting Commissioner Anna Gomez condemned the process. The merger paves the way for David Ellison, son of Oracle co-founder Larry Ellison, to take the reins of “New Paramount.” The new leadership plans to rebuild Paramount+ and expand direct-to-consumer offerings. Skydance promises editorial oversight at CBS and a political “diversity of viewpoints,” further fueling debates over media independence, corporate ethics, and the entanglement of politics with journalism.

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Source: AP News