FCC approves Skydance's $8.4B acquisition of Paramount amid controversy
- The FCC approved Skydance Media's $8.4 billion acquisition of Paramount Global on July 24, 2025.
- Skydance pledged to maintain viewpoint diversity while refraining from implementing DEI programs at CBS.
- The approval faced opposition due to claims of political interference and concerns over First Amendment rights.
On July 24, 2025, the Federal Communications Commission (FCC) approved Skydance Media's acquisition of Paramount Global for $8.4 billion. This decision marked the end of regulatory challenges and granted Skydance control over significant media properties, including CBS, Paramount Pictures, and networks such as MTV and Nickelodeon. The approval was achieved through a narrow 2-1 vote where critical commitments from Skydance regarding the operations of CBS News were evaluated. The company committed to uphold viewpoint diversity and fair reporting while notably rejecting the implementation of any diversity, equity, and inclusion (DEI) initiatives. This stance received praise from FCC Commissioner Carr, who viewed it as aligning with public interest and mitigating discriminatory practices related to DEI. However, the approval process did not come without contention, as Commissioner Gomez expressed concerns regarding potential First Amendment violations and the integrity of the FCC's independence. In addition to the FCC's scrutiny, former President Donald Trump was an influential figure in the discourse surrounding the acquisition. He claimed through social media that he anticipated $20 million in advertising commitments from Skydance, a figure the company has not verified. This led to political backlash, with Democratic lawmakers, including Senator Elizabeth Warren, describing the situation as indicative of deeper issues of corruption. The FCC's review of the acquisition took more than 250 days, demonstrating the complexity of navigating media ownership regulations. With the merger finalized, changes within Paramount's leadership structure are expected. Skydance's CEO David Ellison will guide the newly formed entity, while Jeff Shell, the former head of NBCUniversal, will assume the president's role. There will also be significant shifts in oversight of streaming, with key personnel changes anticipated. This strategic acquisition represents a fundamental shift in the landscape of American media ownership, reflecting broader trends towards consolidation and market influence in the industry.