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6d ago

FCC Approves Skydance-Paramount Merger With DEI Rollback, CBS News Ombudsman

The FCC’s 2-1 vote conditions the deal on dismantling Paramount’s DEI initiatives by appointing a CBS News ombudsman for two years.

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Paramount Global and Skydance logos are seen in this illustration taken December 17, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
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Overview

  • The FCC voted 2-1 on July 24 to approve Skydance Media’s $8.4 billion acquisition of Paramount Global, ending a yearlong regulatory impasse.
  • Approval is tied to Skydance’s commitment to eliminate all diversity, equity and inclusion programs at Paramount and install a two-year ombudsman at CBS News to review bias complaints.
  • Commissioner Anna Gomez cast the sole dissent, criticizing concessions linked to President Trump’s $16 million lawsuit settlement and the rollback of DEI measures.
  • Upon closing, David Ellison will become CEO of the combined Paramount Skydance Corp., with former NBCUniversal chief Jeff Shell named president.
  • The merger is expected to close in the coming weeks, marking a shift in governance and bias oversight at one of America’s leading media companies.