The US Federal Communications Commission (FCC) has approved an $8bn merger between Paramount Global and Skydance Media, marking a significant change for the independent film studio and one of Hollywood’s oldest and most storied companies. The merger, which includes CBS, Paramount Pictures, and Comedy Central, was first announced in 2024. The approval came just weeks after Paramount Global agreed to pay $16m to settle a legal dispute with US President Donald Trump over an interview it broadcast on CBS with former Vice-President Kamala Harris. The settlement did not include a statement of apology or regret. FCC head Brendan Carr welcomed Skydance’s ideas to make “significant changes” at CBS and expected the merger to be completed on 7 August. The FCC agreed to transfer broadcast licenses for 28 owned-and-operated CBS television stations to the new owner. Skydance has made promises to the agency, including a “commitment to unbiased journalism” and a commitment to end diversity, equity, and inclusion efforts, something the Trump administration has targeted. The FCC voted 2-1 to approve the deal, with one commissioner, Anna Gomez, a Democrat, dissenting.
The US FCC has successfully cleared an $8bn merger between Skydance and Paramount.
