Federal regulators approved Paramount's $8 billion merger with Skydance, following significant controversy surrounding President Trump's involvement and a $16 million settlement to appease him. Critics labeled the settlement as a bribe, raising alarm over media independence. CBS faced backlash for canceling Stephen Colbert's 'Late Show' after he criticized the settlement. FCC Chairman Brendan Carr supported the merger, emphasizing the need for balance in CBS's reporting. Skydance committed to addressing bias at CBS News and facilitating a diversity of viewpoints, while the FCC vote reflected dissenting opinions on the merger's implications.
The FCC approved the merger by a 2-1 vote, and the regulator who opposed it expressed disdain for how it all came together.
In a statement accompanying the deal's approval, FCC Chairman Brendan Carr hailed the merger as an opportunity to bring more balance to 'once-storied' CBS.
Critics of the settlement lambasted it as a veiled bribe to appease Trump, amid rising alarm over editorial independence overall.
While seeking approval, Skydance management assured regulators that it will carefully watch for any perceived biased at CBS News and hire an ombudsman to review any complaints about fairness.
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