FCC Approves $8 Billion Paramount-Skydance Merger Amid Trump Settlement

The Federal Communications Commission (FCC) has approved the $8 billion acquisition of Paramount by Skydance, marking a significant consolidation in the entertainment industry that is expected to reshape the streaming and content landscape. This approval followed Paramount's $16 million settlement with President Donald Trump over a lawsuit related to a "60 Minutes" interview, as well as CBS's controversial cancellation of "The Late Show with Stephen Colbert," which many speculate was linked to easing regulatory approval amid concerns about editorial independence. FCC Chairman Brendan Carr supported the merger, emphasizing the need for fair, unbiased, and fact-based news coverage to restore public trust in legacy media, while promising oversight measures such as hiring an ombudsman to monitor bias at CBS News. However, the approval was met with criticism, including from FCC Commissioner Anna Gomez, who condemned the deal as a capitulation to the administration and warned it could harm the American public. The merged entity will continue operating as Paramount under David Ellison's leadership, with expectations that the alliance will challenge major streaming platforms like Netflix and Disney+. The deal highlights ongoing tensions between media companies and the Trump administration, as well as the evolving dynamics of media ownership and content distribution in the U.S.