FCC greenlights $8B Paramount-Skydance merger

What happened

The Federal Communications Commission Thursday approved Skydance's $8 billion acquisition of Paramount, paving the way for "one of the most highly scrutinized media deals in the last decade," said The New York Times.

The decision brings to an end "months of regulatory uncertainty" around President Donald Trump's "scathing criticism" of Paramount's CBS unit, CNN said. CBS News recently paid $16 million to settle what CNN called a "legally dubious" lawsuit over a 2024 episode of "60 Minutes" that Trump said was deceptively edited.

Who said what

Americans "no longer trust the legacy national news media," FCC Chairman Brendan Carr said in a statement. Skydance will make "significant changes" at the new company to "root out bias" and include viewpoints "from across the political and ideological spectrum," he added.

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FCC commissioner Anna Gomez, a Democrat, dissented, calling the "never-before-seen controls" on editorial decisions a "direct violation of the First Amendment and the law." Senator Elizabeth Warren (D-MA) called for an investigation into the "crooked-looking deal."

What next?

The FCC's green light means Skydance CEO David Ellison can take control of Paramount "in the coming weeks," said CNN. Chris McCarthy, one of Paramount's co-CEOs, will leave the company, Variety said.