Federal regulators approved an $8 billion merger between Paramount and Skydance, citing it as a means to restore credibility to CBS. This approval followed months of controversy surrounding President Trump's legal disputes with CBS, including a $16 million settlement that critics labeled a bribe. Paramount faced backlash after canceling the 'Late Show,' and concerns about media independence intensified. FCC Chairman Brendan Carr stated that the merger is an opportunity for change in how national news is reported. Skydance pledged to monitor bias in CBS News and ensure diversity of viewpoints in the new company.
"Americans no longer trust the legacy national news media to report fully, accurately, and fairly. It is time for a change," Carr said.
Critics of the settlement lambasted it as a veiled bribe to appease Trump, amid rising alarm over editorial independence overall.
While seeking approval, Skydance management assured regulators that it will carefully watch for any perceived biased at CBS News and hire an ombudsman to review any complaints about fairness.
The FCC approved the merger by a 2-1 vote, and the regulator who opposed it expressed disdain for how it all came together.
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