The Federal Communications Commission (FCC) has approved the merger between Paramount Global and Skydance Media, paving the way for an $8.4bn deal that includes CBS, Paramount Pictures, and Nickelodeon. The approval came after Paramount paid $16m to settle a lawsuit filed by Donald Trump over a 60 Minutes interview with Kamala Harris.
FCC Chair Brendan Carr, appointed by Trump, stated the review was unrelated to the lawsuit. The merger has drawn criticism, with Senator Elizabeth Warren alleging bribery, noting the settlement and Trump ally Larry Ellison's son David Ellison owns Skydance. Carr welcomed Skydance's commitment to change at CBS, citing a loss of trust in legacy media.
Skydance and RedBird Capital assured the FCC of unbiased journalism but agreed to address conservative grievances and halt diversity, equity, and inclusion efforts. An ombudsman will evaluate editorial bias complaints. Commissioner Anna Gomez, the sole Democrat, called the deal a threat to press freedom, imposing unprecedented newsroom controls.
Carr claimed the merger would unlock $1.5bn investment in Paramount, coinciding with a $1.5bn deal for South Park streaming rights. The show's latest episode mocked Trump and criticised Paramount's settlement and cancellation of Stephen Colbert's show. Colbert had called the settlement a 'big, fat bribe'.
