The Federal Communications Commission (FCC) approved the merger between Paramount Global and Skydance Media on Thursday, clearing the way for an $8.4bn sale of major entertainment assets including CBS, Paramount Pictures, and Nickelodeon. The deal transfers broadcast licenses for 28 CBS television stations to the new owners.
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, said the review was not connected to the suit. Senator Elizabeth Warren accused Paramount of paying Trump $36m for the merger, calling it bribery.
Skydance is owned by David Ellison, son of tech billionaire Larry Ellison, a close Trump ally. Carr stated the merger would bring changes to CBS, citing a lack of trust in legacy media. Skydance committed to unbiased journalism but also promised to address conservative grievances and end diversity, equity, and inclusion efforts.
Commissioner Anna Gomez, the sole Democrat on the FCC panel, criticised the deal as linked to the Trump settlement and warned it would erode press freedom by imposing controls over newsroom decisions. Carr countered that the merger would unleash $1.5bn in investment into Paramount.
The merger follows Paramount's cancellation of The Late Show With Stephen Colbert after he criticised the Trump settlement. A new South Park episode mocked Trump and the company's decisions, including reports of free advertising worth $20m for Trump.
