The Trump administration approved CBS parent company Paramount Global’s $8 billion merger with Skydance, Federal Communications Commission (FCC) Chairman Brendan Carr said on July 24.
The FCC chairman said the changes would “represent an important step towards earning back Americans’ trust” in the media conglomerate, and warned Paramount’s new owner that his agency “Will be watching.”
In an extended statement attached to his X post, Carr wrote that “Americans no longer trust the legacy national news media to report fully, accurately, and fairly.”
“That is why I welcome Skydance’s commitment to make significant changes at the once storied CBS broadcast network,” Carr said. “Skydance has made written commitments to ensure that the new company’s programming embodies a diversity of viewpoints from across the political and ideological spectrum.”
As part of the deal, Skydance has committed to installing an ombudsman for at least two years who will report to the president of New Paramount and “evaluate complaints of bias.”
Skydance, which Carr notes does not currently have DEI programs in place, has promised to “not establish any such initiatives at the new company and confirms that New Paramount will also be committed to equal opportunity employment and nondiscrimination.”
The merger agreement also includes a $1.5 billion investment into Paramount to bolster and fund operations in local news, including broadcast.
“Skydance also reaffirms its commitment to localism as a core component of the public interest standard, and emphasizes that it will work closely with its affiliated broadcast stations to ensure a productive partnership that will strengthen its affiliates’ ability to serve their local communities,” the FCC said.
Critics of the merger, including CBS “Late Show” host Stephen Colbert, accused Paramount of approving the $36 million settlement terms to ensure approval of the merger.
