The Federal Communications Commission approved Skydance Media’s $8.4 billion acquisition of Paramount Global on Thursday, July 24, clearing the final regulatory hurdle. The deal gives Skydance control of major media assets, including CBS, Paramount Pictures and cable networks like MTV and Nickelodeon.
The FCC’s 2–1 vote authorizes the transfer of CBS’s nearly 30 broadcast licenses. FCC Chairman Brendan Carr and Commissioner Olivia Trusty supported the deal, while Commissioner Anna Gomez dissented.
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What commitments did Skydance make?
Skydance told the FCC it would commit to viewpoint diversity and fair reporting at CBS News. As part of that pledge, the company will appoint an ombudsman for at least two years to review complaints of bias and editorial concerns.
Skydance also assured the FCC it would not implement any diversity, equity and inclusion (DEI) programs. Carr praised the company’s commitments, saying they align with the public interest and help “eliminate invidious forms of DEI discrimination.”
How does Trump factor into the approval?
Paramount recently paid $16 million to settle a lawsuit filed by President Donald Trump, who alleged CBS’s “60 Minutes” edited a Kamala Harris interview unfairly. CBS denied wrongdoing.
Though Carr said the FCC review was separate from the lawsuit, Gomez and several Democratic lawmakers accused the agency of enabling political interference in press affairs.
Trump also claimed, via Truth Social, that he expects $20 million in future ad-related commitments from Skydance. The company has not confirmed that figure.
Sen. Elizabeth Warren, D-Mass., responded to Trump’s claim that he would receive an additional $20 million in advertising from Skydance by posting on X that the situation “reeks of corruption.”
Why did Commissioner Gomez oppose the deal?
Gomez criticized the merger approval as a “cowardly capitulation” to the Trump administration and said it imposed “never-before-seen controls” over newsroom operations. She argued the agency’s actions violated First Amendment protections and undermined the FCC’s independence.
What changes are expected at Paramount?
Following the merger, Skydance CEO David Ellison will lead the combined company. Jeff Shell, former NBCUniversal chief, will serve as president. Cindy Holland is expected to oversee streaming, while George Cheeks will remain at CBS. Co-CEO Brian Robbins is likely to depart.
The deal concludes a yearlong negotiation that began in 2023. The FCC review took more than 250 days. Commissioner Trusty described the merger as a “win for American jobs” and a shift toward free-market leadership in media.
