Trump hails Paramount-Skydance merger as FCC clears $8B media deal

ISTANBUL

US President Donald Trump welcomed the Federal Communications Commission’s approval Thursday of an $8 billion merger between Paramount and Skydance Media, a deal that could dramatically reshape CBS News and other major media properties.

“Ellison is great. He’ll do a great job with it,” Trump said in June, signaling support for Skydance CEO David Ellison, the son of Oracle founder and longtime Trump ally Larry Ellison.

The FCC’s announcement confirmed that it had cleared the merger, with Chairman Brendan Carr saying “Americans no longer trust the legacy national news media to report fully, accurately and fairly. It is time for a change.”

Carr added that Skydance made written promises to introduce a more ideologically diverse editorial stance, especially at CBS News.

“Today’s decision also marks another step forward in the FCC’s efforts to eliminate invidious forms of DEI discrimination,” he said, referring to Diversity, Equity and Inclusion, a framework used by organizations to promote fair treatment and full participation of all people, particularly those who have been historically underrepresented or discriminated against.

Skydance’s acquisition includes Paramount’s entertainment assets such as Nickelodeon, MTV, BET, Comedy Central and CBS’ news division. The company also owns franchises like Sonic the Hedgehog and The Smurfs.

Trump’s backing came shortly after Paramount agreed to a $16 million settlement in a lawsuit he filed over a “60 Minutes” interview featuring his opponent in the 2024 presidential election, Vice President Kamala Harris, which he claimed was deceptively edited.

Ahead of the merger, CBS canceled “The Late Show” with Stephen Colbert — a frequent Trump critic — a move the president praised online. CBS described the decision as a financial one.

Meanwhile, CBS News has seen leadership shake-ups, with the spring departure of “60 Minutes” editor Bill Owens, who cited concerns about editorial independence, and the recent exit of CBS News CEO Wendy McMahon.

The New York Times reported last week that Skydance has opened early talks to acquire the conservative-leaning online news outlet The Free Press, raising further questions about the company’s future media direction.

Skydance had pursued Paramount for years by targeting its parent, National Amusements, chaired by Shari Redstone. The deal faced multiple delays, first under the Biden administration and later in the early months of Trump’s current term, before winning final approval in its third review extension.