The Federal Communications Commission (FCC) has approved Skydance Media’s $8 billion bid to acquire Paramount, the parent company of CBS News. The green light comes after Paramount agreed to a $16 million settlement with President Trump over his lawsuit accusing “60 Minutes” of deceptively editing an interview with then-presidential candidate Kamala Harris.
The deal includes provisions that address concerns about alleged bias at CBS. Skydance has also agreed to ensure viewpoint diversity and hire an ombudsman to check for complaints of bias. Additionally, the new owners have committed to a comprehensive review of CBS and have agreed to make public service announcements worth $20 million.
Critics argue that the settlement was paid to secure merger approval, which could set a precedent for future media deals. The FCC’s decision has been seen as a major win for President Trump in his campaign against legacy media. However, it remains to be seen how this deal will impact 60 Minutes and other CBS News programs under new ownership.
As the media landscape continues to evolve, the implications of this acquisition and settlement are being closely watched by industry experts and viewers alike. The future of journalism and media ownership is uncertain, but one thing is clear: the FCC’s decision has significant consequences for the media industry and its stakeholders.
Source: https://www.pbs.org/newshour/show/the-politics-behind-the-8b-paramount-skydance-merger