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FCC approves $8 billion Paramount-Skydance merger
The Federal Communications Commission cleared the way Thursday for an $8 billion merger between Paramount and Skydance Media.
The deal, which was announced more than a year ago, includes the CBS broadcast television network, Paramount Pictures and the Nickelodeon channel.
"Americans no longer trust the legacy national news media to report fully, accurately, and fairly," Brendan Carr, chairman of the Federal Communications Commission, wrote in a statement Thursday. "It is time for a change.ĂÂ That is why I welcome Skydance's commitment to make significant changes at the once storied CBS broadcast network."
Carr noted that Skydance had made written commitments to ensure the new company's programing would have a diversity of viewpoints across the political and ideological spectrum. Skydance also said it would hire a third-party impartial outsider to report to the president of the new company to evaluate complaints of bias.
Trump administration greenlights Paramount's $8 billion merger with entertainment group Skydance
Trump administration regulators have approved Skydance Mediaâs $8 billion bid to acquire CBS News parent company Paramount, paving the way for a tectonic shift in ownership of one of Americaâs three major networks.
The Federal Communications Commission said Thursday that it had approved the acquisition, with FCC Chairman Brendan Carr adding in a press release that the move would bring change to the company's news coverage. Paramount owns CBS, which includes CBS News.
"Americans no longer trust the legacy national news media to report fully, accurately, and fairly. It is time for a change," Carr said in a news release. "That is why I welcome Skydanceâs commitment to make significant changes at the once storied CBS broadcast network. In particular, Skydance has made written commitments to ensure that the new companyâs programming embodies a diversity of viewpoints from across the political and ideological spectrum."
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Paramount Co-CEO Chris McCarthy To Depart Upon Completion Of Skydance Acquisition As Deal Gets FCC Approval
Chris McCarthy, co-CEO of Paramount Global and president of Showtime/MTV Entertainment, has opted to depart the company once its acquisition by Skydance is completed early next month. McCarthy, a 22-year veteran of Paramount Global and predecessor Viacom, is making the move ahead of Skydance announcing the post-merger leadership of the combined company. The news comes on the heels of the FCC approving the merger Thursday.
Since April 2024, McCarthy has served as Co-CEO of Paramount Global alongside George Cheeks (President of CBS) and Brian Robbins (President of Paramount Pictures and Nickelodeon). Of the three, Cheeks is expected to stay on after the merger, with Robbins also poised to exit.
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