FCC approves controversial $8B Skydance-Paramount merger

The Federal Communications Commission (FCC) approved Skydance Media’s $8 billion merger with Paramount Global on Thursday, paving the way for the deal to close within weeks. 

The media deal unites Skydance—a film and TV production company—with Paramount Pictures, CBS, MTV, Nickelodeon, and Comedy Central.

Media shake-up and commitments
As part of the approval, Skydance CEO David Ellison pledged that CBS News would uphold impartial journalism and reflect a range of political views. He promised to appoint an ombudsman to review complaints and bias concerns. 

Skydance also told FCC Commissioner Brendan Carr it would discontinue all of Paramount’s diversity, equity, and inclusion (DEI) programs and not implement any new ones.

Political controversy and fallout
The FCC approved the merger in a 2–1 vote. Democratic commissioner Anna Gomez dissented, warning the government was infringing on newsroom independence. 

Meanwhile, CBS canceled The Late Show with Stephen Colbert, sparking protests and speculation that it was tied to merger politics.

What is next?
Skydance plans swift leadership changes post-merger. Former NBCUniversal exec Jeff Shell will become president, while ex-Netflix exec Cindy Holland will lead streaming. 

Co-CEO Brian Robbins is expected to exit, while George Cheeks may stay on.