FCC Approves $8 Billion Paramount-Skydance Merger

Washington, D.C. — The Federal Communications Commission has officially approved the $8 billion merger between Paramount Global and Skydance Media, clearing the path for a significant shakeup in the U.S. media landscape.

The deal includes control of CBS, Paramount Pictures, and Nickelodeon. FCC Chairman Brendan Carr praised Skydance’s commitment to “significant changes” at CBS, including the exclusion of any future diversity, equity, and inclusion (DEI) programs. Skydance also agreed to bring in a third-party monitor to evaluate programming bias.

Carr cited a loss of public trust in traditional media, calling the merger a necessary step. Paramount Chair Shari Redstone is expected to exit the board, as her family’s National Amusements sells its controlling stake to Skydance, led by David Ellison, son of Oracle founder Larry Ellison.

The FCC’s 2–1 decision was not without controversy. Democratic Commissioner Anna Gomez dissented, raising concerns over a recent $16 million settlement between Paramount and Donald Trump over a “60 Minutes” segment, and CBS’s abrupt cancellation of “The Late Show with Stephen Colbert.”

The timing has raised questions in political and media circles. The Writer’s Guild of America called for investigations, alleging possible political influence. Senators Elizabeth Warren and Adam Schiff echoed those concerns, with Warren questioning in a Variety op-ed whether the merger and Colbert's cancellation were “part of a wink-wink deal.”

As regulatory scrutiny continues, the merger marks a new era for Paramount’s properties under Skydance’s leadership, one that may reshape the tone and direction of some of the U.S.'s most influential media platforms.