FCC clears Paramount, Skydance merger
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The Federal Communications Commission has approved the $8 billion merger of Paramount Global and Skydance Media, claiming “significant changes,” are coming to the CBS owner.
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Chairman Brendan Carr thinks his agency should strive to ensure that news coverage is fair and balanced—a role precluded by the First Amendment.
With the FCC having cleared the Skydance Media-Paramount merger and the deal set to close in a matter of weeks, Paramount Global co-CEO Chris McCarthy will leave the media conglomerate, a company source confirmed to Variety.
Skydance has emphasized that the commitments are voluntary. Previously, Skydance and Paramount had argued against conditions imposed by the FCC to mandate benchmarks for viewpoint neutrality, saying that they would be “squarely foreclosed by the First Amendment and Supreme Court precedent.”
Brendan Carr, FCC Chairman, joins CNBC's 'Squawk on the Street' to respond to allegations that the Trump Administration pressured Paramount into a settlement agreement before approving a merger with Skydance.