CBS, Skydance Media and FCC
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The FCC's approval, which was necessary for the deal to move forward, caps a long-running corporate saga over the fate of Paramount, which owns Paramount+, the Paramount Pictures movie and television studios, the CBS television network and CBS News and Stations. Paramount also owns Nickelodeon, BET, MTV, Comedy Central and other media brands.
Skydance Media offered olive branches to the Federal Communications Commission in order to secure approval for its $8 billion acquisition of Paramount Global, and those overtures achieved the desired result.
FCC Chairman Brendan Carr praised Skydance Media’s commitment to hire an ombudsman for CBS News after it completes its merger with Paramount Global. The commitment was outlined in a filing with the FCC this week.
The US FCC has approved the merger of Paramount Global and Skydance Media. This deal transfers control of CBS, Paramount Pictures and other networks to Skydance. The approval follows a settlement in a lawsuit filed by Donald Trump.
Skydance Media has made additional promises to the FCC in an effort to get approval for its $8 billion merger with Paramount Global.