In a landmark media deal, regulators from the Trump administration have greenlit Skydance Media's $8 billion acquisition of Paramount, the parent company of CBS News. The move signals a massive shift in control over one of America’s major broadcast networks, with potential ripple effects across the media and political landscape.
The Federal Communications Commission (FCC) announced Thursday that it had officially approved the acquisition. FCC Chairman Brendan Carr, a Trump appointee, emphasized that the deal would bring significant changes to CBS's news coverage.
"Americans no longer trust the legacy national news media to report fully, accurately, and fairly. It is time for a change," Carr stated. He noted that Skydance has pledged to promote programming that reflects a wide range of political and ideological perspectives.
Carr also framed the decision as part of the FCC's ongoing efforts to eliminate discriminatory diversity, equity, and inclusion (DEI) practices. Skydance agreed to several terms, including a promise not to implement DEI programs and to conduct a full review of CBS. Additionally, the company will appoint an ombudsman for at least two years to report directly to the president of the newly formed media entity.
Paramount’s recent concessions mirror similar moves by other major companies with deals pending before Carr’s FCC—like Verizon and T-Mobile—who have also scaled back DEI commitments.
This decision comes shortly after Paramount Global paid $16 million to settle a lawsuit filed by former President Donald Trump. The lawsuit accused CBS of interfering with voters by selectively editing a “60 Minutes” interview with then-Vice President Kamala Harris.
Not everyone welcomed the deal. FCC Commissioner Anna Gomez, the sole Democrat in the agency's leadership, condemned the approval and its implications for press freedom.
“After months of cowardly capitulation to this Administration, Paramount finally got what it wanted," Gomez said in a statement. She criticized the FCC for overstepping its authority and applying unprecedented editorial pressure on newsrooms—actions she said violated the First Amendment.
David Ellison, the CEO of Skydance and son of Oracle founder (and Trump ally) Larry Ellison, is now at the helm of the CBS empire. Though the younger Ellison made a donation to President Joe Biden’s 2024 campaign, Trump has since expressed support for the acquisition.
“Ellison is great. He’ll do a great job with it,” Trump said in June.
Major editorial changes are expected at CBS News under Skydance ownership. In a filing to the FCC, Skydance said it would focus on "American storytelling" and move toward an “unbiased” editorial direction. The filing came shortly after Paramount's settlement with Trump.
Meanwhile, CBS recently announced the cancellation of “The Late Show” hosted by Stephen Colbert, who had publicly criticized the Trump settlement. While CBS said the cancellation was due to financial issues, Trump praised the move online.
Signs of editorial shifts have been emerging for months. “60 Minutes” editor Bill Owens stepped down in spring, citing the loss of CBS News’ editorial independence. Soon after, CBS News President Wendy McMahon was ousted.
In another potential sign of ideological repositioning, Skydance has reportedly entered early talks to acquire The Free Press, a conservative-leaning media outlet. Elsewhere in the network, uncertainty looms. “Daily Show” host Jon Stewart has said he’s unsure about his show's future post-merger.
Skydance had long pursued Paramount and found a path to acquisition by purchasing its parent company, National Amusements—once led by media mogul Sumner Redstone and now run by his daughter, Shari Redstone.
The deal faced significant regulatory roadblocks under both the Biden administration and early Trump administration efforts. It was finally approved during its third deadline extension.
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