CBS, Skydance Media and FCC
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FCC chairman Brendan Carr praised Skydance Media's commitment to hire an ombudsman for CBS News after it completes its merger with Paramount Global.
Upon the deal’s closing, Skydance and its financial partners are set inject $1.5 billion in cash into Paramount. However, that’s intended to go toward reducing Paramount’s long-term debt ($14.16 billion as of Q1 of 2025) to help stabilize its balance sheet.
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As Skydance looks to close its $8 billion merger with Paramount, the David Ellison-led studio has sent new letters to the FCC committing to the appointment of an ombudsman and the elimination of the media giant's diversity,
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Plus, Hulk Hogan, the pro wrestler who brought the sport to new heights of mainstream popularity, died at the age of 71.
Skydance Media has made additional promises to the FCC in an effort to get approval for its $8 billion merger with Paramount Global.
The US FCC has approved the merger of Paramount Global and Skydance Media. This deal transfers control of CBS, Paramount Pictures and other networks to Skydance. The approval follows a settlement in a lawsuit filed by Donald Trump.