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The Federal Communications Commission has approved the $8 billion merger of Paramount Global and Skydance Media, claiming “significant changes,” are coming to the CBS owner.
The FCC approved the transfer of CBS licenses to Skydance's ownership group, paving the way to the merger of Skydance and Paramount.
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The Federal Communications Commission on Thursday approved the merger between Paramount Global and Skydance Media
Skydance committed to removing DEI programs and establishing a bias complaint system at CBS News as it seeks FCC approval for Paramount merger.
Skydance Media has made additional promises to the FCC in an effort to get approval for its $8 billion merger with Paramount Global.
Skydance, the entertainment company set to take over Paramount in an $8 billion merger, told federal officials this week that it will hire an ombudsman who will review “complaints of bias” at CBS News
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As Skydance looks to close its $8 billion merger with Paramount, the David Ellison-led studio has sent new letters to the FCC committing to the appointment of an ombudsman and the elimination of the media giant's diversity,
Upon the deal’s closing, Skydance and its financial partners are set inject $1.5 billion in cash into Paramount. However, that’s intended to go toward reducing Paramount’s long-term debt ($14.16 billion as of Q1 of 2025) to help stabilize its balance sheet.