FCC Approves Skydance-Paramount $8B Merger Altering Media Ownership

The Federal Communications Commission, under Chairman Brendan Carr and during the Trump administration, approved Skydance Media's $8 billion acquisition of Paramount Global, including CBS News, signaling a major shift in media ownership. Skydance, led by David Ellison, has committed to eliminating all Diversity, Equity, and Inclusion (DEI) policies at Paramount in compliance with President Trump's executive orders against DEI initiatives. This includes dismantling DEI hiring goals and offices, with a new focus on "unbiased journalism" and representing a broad spectrum of political and ideological viewpoints. The move aligns with broader legal and political pressures, including recent Supreme Court rulings and lawsuits challenging DEI practices. President Trump expressed support for Ellison's takeover, indicating confidence in the new direction for the network's editorial stance. Skydance aims to promote "American storytelling" and equal opportunity without DEI-related numerical goals or preferences, marking a significant editorial and corporate governance transition for CBS and its affiliated networks.