The FCC has cleared Paramount’s merger with Skydance

The Federal Communications Commission greenlit Skydance Media’s purchase of Paramount Global for $8 billion on Thursday. 

FCC Chairman Brendan Carr cited in a statement Skydance’s commitment to “unbiased journalism,” an end to “discriminatory DEI policies,” and “enhanced local news” as some reasons for the approval. 

Skydance, in a written commitment to the FCC, said it will carry these commitments out by appointing someone for at least two years to “evaluate complaints of bias” and report directly to the president of Paramount. It also told the FCC it has no plans to implement diversity, equity, and inclusion policies — which it currently doesn’t have in place.

“Americans no longer trust the legacy national news media to report fully, accurately, and fairly. 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,” Carr said in his release. 

Skydance, which is led by David Ellison — the son of Oracle co-founder and billionaire Larry Ellison, plans to make its new programming embody “a diversity of viewpoints from across the political and ideological spectrum,” Carr added. 

Paramount — which owns and operates CBS, Paramount Pictures, and Nickelodeon, among others — agreed to pay President Donald Trump $16 million earlier this month to settle a lawsuit the president brought against the network for its editing of an interview with former Vice President Kamala Harris on “60 Minutes.” The network also decided last week to cancel "The Late Show with Stephen Colbert." In an episode following the news, Colbert said he can now “say what I really think of Donald Trump, starting right now.” 

Carr’s release said this merger will invest $1.5 billion into Paramount, “bolstering all aspects of its operations, including broadcast.” 

“In an unprecedented move, this once-independent FCC used its vast power to pressure Paramount to broker a private legal settlement and further erode press freedom,” FCC Commissioner Anna M. Gomez — the only opposing vote to the merger in a 2-1 vote — said in her dissenting statement. “Once again, this agency is undermining legitimate efforts to combat discrimination and expand opportunity by overstepping its authority and intervening in employment matters reserved for other government entities with proper jurisdiction on these issues.”

“Today’s decision also marks another step forward in the FCC’s efforts to eliminate invidious forms of DEI discrimination,” Carr said.

“Despite this regrettable outcome, this Administration is not done with its assault on the First Amendment. In fact, it may only be beginning,” Gomez said.