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By Gabe Whisnant and Sonam Sheth
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The Federal Communications Commission (FCC) on Thursday approved the $8.4 billion merger between Paramount Global and Skydance Media, paving the way for a major shakeup in the entertainment industry.
The deal, which was approved in a 2-1 vote, includes the transfer of iconic properties such as CBS, Paramount Pictures, and Nickelodeon. As part of the approval process, the FCC authorized the transfer of broadcast licenses for 28 CBS-owned-and-operated television stations to the new ownership group.
Why It Matters
Thursday's green light from the FCC followed Paramount's $16 million settlement of a lawsuit filed by President Donald Trump over what he claimed were deceptive editing practices related to a 60 Minutes interview with then-Democratic presidential nominee Kamala Harris that aired in October, during the 2024 election.
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Trump has repeatedly said CBS edited the interview to reflect more favorably on Harris than during the full, unedited conversation.
Paramount drew widespread blowback for its settlement, which critics said was capitulating to the president as he continues attacking typically independent institutions like the press, universities and law firms.
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What To Know
FCC Chairman Brendan Carr has said the agency's review of the Paramount–Skydance merger was conducted independently and was not influenced by the civil lawsuit involving Trump.
The merger was approved after Skydance and its financial backer, RedBird Capital, pledged to uphold editorial independence and ensure balanced journalism across CBS and other outlets.
As part of that commitment, Skydance announced it will appoint an ombudsman to address complaints of editorial bias and other concerns, aiming to bolster transparency and public trust.
Paramount has also dismantled its diversity, equity and inclusion programs to reflect the Trump administration's stance that the initiatives constitute discriminatory affirmative action.
In addition to the scrutiny that Paramount drew over its $16 million settlement toward Trump's future presidential library, CBS and its parent company were doubly criticized when they canceled The Late Show With Stephen Colbert, despite the fact that Colbert's show was top-rated among late-night talk shows.
Colbert has long been one of Trump's harshest critics and his show's cancellation came after he referred to the settlement on air as a "big, fat bribe."
What People Are Saying
Democratic Senator Elizabeth Warren of Massachusetts wrote on X: "BREAKING NEWS: Trump's government just approved Paramount's merger with Skydance. Sure looks like they paid Donald Trump $36 MILLION for this merger. Bribery is illegal no matter who is president."
Democratic activist Matthew Gertz wrote on X: "Wow, amazing how the FCC's concerns about the Skydance/Paramount merger went away immediately after they paid the president a bribe, what a coincidence!"
Commissioner Anna Gomez, who dissented to approving the merger, warned in part: "[T]he Paramount payout and this reckless approval have emboldened those who believe the government can — and should — abuse its power to extract financial and ideological concessions, demand favored treatment, and secure positive media coverage."
What Happens Next
Despite the merger going through on Thursday, Paramount's headaches with the Trump administration may not be quite over. In the days since Colbert's cancellation and Paramount's settlement with the president, other high-profile shows under the company's banner have been using their platforms to take shots at both Trump and their corporate overseers.
"The Daily Show" host Jon Stewart delivered a blistering monologue on Monday attacking Paramount for cancelling Colbert and the "Late Show" franchise. And on Wednesday night, the iconic satirical comedy show "South Park" premiered its 27th season with an episode that made fun of the president's genitalia while comparing him to the former Iraqi dictator Saddam Hussein.
The "South Park" episode was particularly noteworthy, given that it came one day after the show's creators reached a $1.5 billion streaming deal with Paramount. A character portraying Jesus Christ also called out Paramount directly.
"You guys saw what happened to CBS?" he said to townspeople who were protesting the president. "Well, guess who owns CBS? Paramount! You really want to end up like Colbert? You guys got to stop being stupid. Just shut up, or we're going to get canceled, you idiots!"
Update 7/24/25, 11:31 p.m. ET: This story has been updated with additional information and comments.
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