The $8 billion merger between Paramount and Skydance has received the approval of US communications regulator FCC.
The protracted process followed several concessions made to the Trump administration. Clearance was needed because of the broadcast licences held by Paramount. In addition to the CBS Network it also runs MTV, Comedy Central, Showtime, and the Paramount+ streaming service.
The company also said it would “undertake a comprehensive review” of CBS and install an ombudsman for at least two years who will consider “complaints of bias” at CBS News.
Reflecting the politically charged nature of American society FCC Chairman Brendan Carr said: “Americans no longer trust the legacy national news media to report fully, accurately, and fairly. It is time for a change. That is why I welcome Skydance’s commitment to make significant changes at the once storied CBS broadcast network. In particular, Skydance has made written commitments to ensure that the new company’s programming embodies a diversity of viewpoints from across the political and ideological spectrum.”
Skydance has commited not to introduce any Diversity, Equity, and Inclusion measures at Paramount – it has no DEI measures in place at present.
The company also said it would now “undertake a comprehensive review” of CBS and install an ombudsman for at least two years who will consider “complaints of bias” at CBS News.
Earlier this month, Paramount Global settled a lawsuit with President Trump over the editing of a 60 Minutes interview with former Vice President Kamala Harris.
Just last week, CBS announced the cancellation of The Late Show, fronted by Stephen Colbert, who had recently criticised the $16 million settlement.
CBS argued the decision was entirely financial, amid falling ratings, even though the show was the best performing of the late night shows.
