US FCC liquidates $8 billion Skydance-Paramount merger

The Federal Communications Commission (FCC) approved a $8 billion (£5.9 billion) merger between Paramount Global and Skydance Media.

The merger between independent film studios and one of Hollywood’s oldest and oldest companies was first announced in 2024.

Just a few weeks after approval Paramount Global agrees to pay $16 million (£13.5 million) to resolve legal disputes In an interview with former Vice President Kamala Harris of CBS, along with U.S. President Donald Trump.

President-appointed FCC head Brendan Carr announced the approval of the merger Thursday, saying he welcomed Skydance’s idea to make “significant changes” on CBS.

The FCC agreed to transfer broadcast licenses for 28 owned and operated CBS TV stations to new owners.

“Americans no longer believe that traditional national news media can report completely, accurately, fairly,” Carl said. “It’s time to make a change.”

Mr Carl said Skydance has made a commitment to the agency, including a commitment to “unbiased news” and that the combined company will install an ombudsman to assess complaints of bias.

Skydance also promises to end diversity, equity and inclusion efforts, which the Trump administration targets.

The FCC voted 2-1 for the deal, disagreeing with Anna Gomez, a Democrat.

“After months of cowardly surrender, Paramount finally got what he wanted. Unfortunately, it is the American public that will eventually pay for their actions.”

Paramount Global has been back to the founding of Paramount Pictures Corporation in 1914 for more than a century. The studio has produced many hit movies, including the Godfather, Star Trek and Mission: The Impossible Series.

Paramount has streaming service Paramount+ as well as Paramount Images, CBS, Nickelodeon, BET, MTV, Comedy Central and other media brands.

But the entertainment giants have struggled for the past decade.

Skydance is owned by David Ellison, son of Larry Ellison, who founded the American technology giant Oracle.

FCC approval is a necessary condition for the transaction to continue.

The deal includes CBS, Paramount Pictures and Comedy Center, which follows a series of actions Paramount has taken, including resolving a lawsuit by U.S. President Donald Trump.

According to reports from the Wall Street Journal and the New York Times, a settlement was reached in 60-minute interviews with the help of mediators to avoid affecting planned mergers, and the FCC is under review, so Trump has the technical right to stop.

Trump claims the network has deceptively edited an interview that aired on his 60-minute news program with his presidential rival Kamala Harris to “support the Democratic Party.”

Paramount said the settlement lawsuit would pay the price, but allocated the money to Trump’s future presidential library rather than paying him “directly or indirectly.”

It’s also a few days after Paramount-owned CBS announced it would end with Stephen Colbert, who criticized Trump.

The network said the move was “purely a financial decision in the context of late-night challenging conditions [television]”and” has nothing to do with the performance, content or other matters of the performance.