Paramount’s $8 billion merger with entertainment group Skydance
Trump administration regulators have approved Skydance Media’s $8 billion bid to acquire CBS News parent company Paramount, paving the way for a tectonic shift in ownership of one of America’s three major networks.
The deal opens the door to major changes at CBS News, with FCC Chairman Brendan Carr saying, “Americans no longer trust the legacy national news media to report fully, accurately, and fairly. It is time for a change.”
“Americans no longer trust the legacy national news media to report fully, accurately, and fairly. It is time for a change,” Carr said.
“That is why I welcome Skydance’s commitment to make significant changes at the once storied CBS broadcast network.
In particular, Skydance has made written commitments to ensure that the new company’s programming embodies a diversity of viewpoints from across the political and ideological spectrum.”
In recent days, Paramount’s new owner made a number of concessions to the FCC, including agreeing to not implement any diversity, equity or inclusion programs. Skydance also said it would “undertake a comprehensive review” of CBS and “will commit, for a period of at least two years, to have in place an ombudsman.” That role would report to the president of the new company.
A number of companies that have billion-dollar transactions pending before Carr’s FCC have also backed off of DEI programs, including Verizon and T-Mobile.
