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CBS, FCC and Skydance
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The FCC approved the transfer of CBS licenses to Skydance's ownership group, paving the way to the merger of Skydance and Paramount.
The FCC's approval, which was necessary for the deal to move forward, caps a long-running corporate saga over the fate of Paramount, which owns Paramount+, the Paramount Pictures movie and television studios, the CBS television network and CBS News and Stations. Paramount also owns Nickelodeon, BET, MTV, Comedy Central and other media brands.
Skydance committed to removing DEI programs and establishing a bias complaint system at CBS News as it seeks FCC approval for Paramount merger.
Skydance Media has made additional promises to the FCC in an effort to get approval for its $8 billion merger with Paramount Global.
Paramount and Skydance announced Friday that, with the Trump administration’s approval, the highly anticipated merger between the entertainment giants is expected to take place next month. The Aug. 7 date,
The Federal Communications Commission has approved the $8 billion merger of Paramount Global and Skydance Media, claiming “significant changes,” are coming to the CBS owner.
20hon MSN
Shares of Paramount are set to open higher Friday after long-awaited FCC approval for its merger erased a big question mark hovering over the company's future, but amid ongoing uncertainty about its strategic plans under Skydance Media.
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.