FCC Greenlights Controversial $8B Paramount-Skydance Merger, Shaking Up Media—and Politics

The FCC officially approved Skydance Media’s $8 billion takeover of Paramount, clearing the way for one of the biggest—and most politically charged—media mergers in recent memory. But the deal didn’t pass without fireworks.

Skydance, the studio run by David Ellison (yep, son of billionaire Larry Ellison), is now in line to control some of America’s biggest media brands, including:

• CBS
• Nickelodeon
• MTV
• Comedy Central
• Paramount Pictures

And with that comes major influence over what millions of Americans watch—and how it’s reported.

To get the FCC’s blessing, Skydance agreed to some big concessions—clearly aimed at pleasing the Trump administration, which has been vocal about media bias. Those promises include:

• Eliminating DEI (Diversity, Equity, Inclusion) programs
• Installing a media “ombudsman” to review complaints about CBS News for at least two years
• Reviewing CBS content for bias

FCC Chair Brendan Carr called the merger a win for media reform, saying the public no longer trusts the “legacy media” to report fairly.

But not everyone’s buying it.

Democratic Commissioner Anna Gomez blasted the deal, calling it a threat to press freedom and saying it reeks of government pressure to reshape newsrooms.

“This is the First Amendment under siege,” she said bluntly.

She wasn’t alone. Democratic senators called the whole thing “corrupt,” warning it sets a dangerous precedent for political interference in journalism.

The timing is…interesting. Just weeks ago, Paramount quietly settled a $16 million lawsuit with Donald Trump, who claimed CBS manipulated a “60 Minutes” interview with Kamala Harris. Critics saw that payout as a “please-don’t-block-our-merger” gift.

Then came news that CBS is canceling “The Late Show with Stephen Colbert”—not long after Colbert mocked the lawsuit and called the settlement a “bribe.” CBS swears the cancellation is purely financial.

Meanwhile, “South Park” creators just signed a $1.5 billion deal with Paramount—and in true fashion, promptly roasted Trump and the company on air.

Like other old-school media giants, Paramount’s been struggling to keep up with streaming and social media. Their advertising revenue is down nearly 20% this year.
The merger gives them:

• $1.5 billion in new investment
• Access to Skydance’s IP and creative team
• And about $2 billion in cost-cutting plans (translation: layoffs and show cancellations likely)

Shari Redstone, Paramount’s controlling shareholder, walks away a winner—she avoids a $400 million breakup fee and cashes out big.

But CBS News staffers? They’re bracing for major changes.

The future of CBS’s journalism is now in the hands of the Ellison camp. Some employees are nervous. Some are hopeful. Many are just holding their breath.

Lesley Stahl of “60 Minutes” summed it up:

“I’m hoping they hold freedom of the press up as a beacon. I’m praying for that.”

In other major news, pro wrestling icon Hulk Hogan has died at 71.

He passed away at a Florida hospital after suffering cardiac arrest. Hogan helped transform wrestling into a global spectacle in the ‘80s and ‘90s—and became a pop culture staple.

Tributes poured in from fellow wrestlers, fans, and even political figures like Trump and VP JD Vance, who called Hogan one of his childhood heroes.

With input from BBC, the Washington Post, NBC News, and Reuters.