FCC approves $8 billion Paramount-Skydance merger after lengthy review

https://www.msn.com/en-us/news/politics/fcc-approves-8-billion-paramount-skydance-merger-after-lengthy-review/ar-AA1Jf7Ug

The Federal Communications Commission on Thursday formally approved the $8 billion merger of CBS parent company Paramount and Skydance Media, ending a more than 250-day-long review process marked by controversy and accusations of inappropriate political pressure. The vote was 2-1, with Democratic-appointed Commissioner Anna M. Gomez opposing the transaction.

“Americans no longer trust the legacy national news media to report fully, accurately, and fairly,” FCC Chairman Brendan Carr said in a statement. “It is time for a change. That is why I welcome Skydance’s commitment to make significant changes at the once storied CBS broadcast network.” A Paramount spokesperson declined to comment.

Earlier this week, Skydance agreed to several major concessions that “pleased” Carr, as he said during a news conference earlier Thursday. Skydance pledged to conduct a review of CBS’s content and to appoint an ombudsman to handle claims of bias. The network also agreed to refrain from diversity, equity and inclusion programs, another Carr priority. “These commitments, if implemented, would enable CBS to operate in the public interest and focus on fair, unbiased, and fact-based coverage,” Carr said Thursday.

“Doing so would begin the process of earning back Americans’ trust.” In a meeting last week with Carr, Skydance chief executive David Ellison pledged his company’s “commitment to unbiased journalism and its embrace of diverse viewpoints,” arguing that the members of the new ownership group “represent fresh leadership” that could help the company thrive in a challenging market for media. Ellison’s father, Oracle co-founder Larry Ellison, is a friend of President Donald Trump.

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