Overview

• Skydance General Counsel Stephanie Kyoko McKinnon wrote that the company “fully complied” with all anti-bribery laws during its review of Paramount Global’s acquisition.
• The letter clarifies Skydance was neither a party to President Trump’s lawsuit against CBS News nor to Paramount’s $16 million settlement and notes Paramount could independently settle unrelated litigation up to $50 million under the merger terms.
• McKinnon asserted that Skydance had no involvement in CBS’s decision to cancel The Late Show with Stephen Colbert, emphasizing that Paramount made the cancellation independently for financial reasons.
• On July 24 the FCC approved the $8.4 billion merger under conditions requiring a CBS News ombudsman and the elimination of diversity, equity and inclusion initiatives.
• The deal, after extended antitrust and political scrutiny, is set to close on August 7 with the newly imposed editorial oversight measures in place.