FCC Approves $8.4B Paramount, Skydance Merger Amid Bias Oversight

The Federal Communications Commission (FCC) has approved the $8.4 billion merger between Paramount Global and Skydance Media, allowing Skydance to take control of CBS broadcast television stations and other assets. The approval came after a lengthy review process and was contingent on Paramount settling a $16 million lawsuit with President Donald Trump related to a 60 Minutes segment featuring Vice President Kamala Harris. FCC Chairman Brendan Carr welcomed Skydance's commitment to unbiased journalism and diverse ideological perspectives, including the appointment of an ombudsman to address complaints of bias at CBS News. Paramount also agreed to end its diversity, equity, and inclusion initiatives in line with the Trump administration's stance on such policies. Following the announcement, Paramount's stock rose to a 52-week high, although analysts maintain a cautious 'Hold' rating due to valuation uncertainties. This merger represents a significant shift in the media landscape, potentially reshaping news coverage and entertainment programming across major networks.