US Regulator Approves $8bn Skydance-Paramount Merger, Paving Way for Major Media Shift

The US Federal Communications Commission (FCC) has given the green light to the $8 billion merger between Skydance Media and Paramount Global, marking a significant transformation in the global media landscape. The deal, first announced in 2024, unites the independent film studio Skydance with Paramount, one of Hollywood’s most iconic companies, owner of CBS, Nickelodeon, MTV, and Paramount Pictures.

The FCC’s approval follows Paramount’s recent $16 million settlement of a legal dispute with US President Donald Trump over a CBS interview. As part of the merger, Skydance has pledged to implement “unbiased journalism” at CBS, including appointing an ombudsman to address bias complaints, and to end diversity, equity, and inclusion initiatives—a move aligned with current US political trends.

The commission voted 2-1 in favor, with dissent from Democratic commissioner Anna Gomez, who warned of potential negative impacts on the public. The merger, which still awaits a final completion date, includes the transfer of 28 CBS broadcast licenses to Skydance. Industry observers expect the deal to reshape the competitive landscape for streaming, licensing, and content production, with potential ripple effects for global toy and licensing sectors tied to Paramount’s major brands.

Source:BBC News