The US government’s Federal Communications Commission (FCC) has approved David Ellison’s SkyDance media and the proposed $8 billion Paramount Global Merger.
The FCC voted 2-1 in favour of the measure, led by Donald Trump’s appointee and committee chair Brendan Kerr. Republicans praised Skydance’s commitment to hiring an ombudsman to consider alleged media bias in Paramount Global’s CBS news programme that does not introduce a DEI (diversity, equity, and inclusion) initiative that is in line with the Trump administration’s sentiment.
Thursday’s decision comes a year after months of scrutiny and comes after companies agree to merge in principle. Ellison is the son of aerobatic pilot and oracle billionaire Larry Ellison, and will become the 42-year-old CEO and youngest studio owner in Hollywood.
Skydance is raising joint funds Top Gun and Mission: Impossible The tent pole with Paramount was supported by a bid by Redbird Capital. Former NBCuniversal CEO Jeff Shell will serve as president.
Paramount Global Co-CEO CEO Chris McCarthy will leave once the merger is complete, but it remains to be seen what will happen to his co-CEOS George Cheek, who leads CBS and Brian Robbins, who oversees the studio business.
The merger means Paramount global shareholder Shari Redstone, who bought Viacom in 1987 and abandoned control of the company that was in his family for decades after his late father Sumner Redstone purchased Viacom in 1987 and built an empire that includes not only CBS, Nickelodeon, Comedy Central and MTV, but also the gems of Crown Paramount photographs.
The entire process is caught up in politics. CBS recently agreed to pay $16 million to Trump’s Presidential Library and resolved the “60-minute” lawsuit filed by the president over a deceptive compilation of an interview with former presidential candidate Kamala Harris. Legal experts said there was no merit in the case.
Longtime Trump critic talk show host Stephen Colbert said the settlement was “a big fat bribe.” A few days later, CBS announced that it was over Late Show with Stephen Colbert In May 2026, he retired from the institution several decades ago, claiming it was financial and not motivated anything else.
Episodes of Comedy Central’s animated series South Park I enjoyed the settlement this week. Last December, Disney paid $15 million to settle a honour-loss lawsuit brought by Trump amid climate critics saying it was designed to threaten the president’s policies to opposers.
“Americans no longer trust legacy national news media to report completely, accurately and impartially. It’s time for change,” he added.
Carr’s Republican FCC member Oliva Trusty also voted in favor of the merger. But with a strong opposition, Democrat Anna Gomez said: “This order cannot support approving this transaction in light of other troublesome concessions made to pay this order or settle unfounded lawsuits.
(TagstoTranslate)Finance (T)Paramount Pictures (T)USA
