Federal regulators approve Paramount’s $8 billion deal with Skydance, capping months of turmoil

NEW YORK AP Federal regulators on Thursday approved Paramount s billion merger with Skydance clearing the way to close a deal that combined Hollywood glitz with political intrigue The stamp of approval from the Federal Communications Commission comes after months of turmoil revolving around President Donald Trump s legal battle with Minutes the crown jewel of Paramount-owned broadcast arrangement CBS With the specter of the Trump administration potentially blocking the hard-fought deal with Skydance Paramount earlier this month agreed to pay a million settlement with the President Critics of the settlement lambasted it as a veiled a bribe to appease Trump amid rising alarm over editorial independence overall Further outrage also emerged after CBS reported it was canceling Stephen Colbert s Late Show just days after the comedian sharply criticized the parent company s settlement on air Paramount cited financial reasons but big names both within and outside the company have questioned those motives In a report accompanying the deal s approval FCC Chairman Brendan Carr hailed the merger as an opportunity to bring more balance to once-storied CBS configuration Americans no longer trust the legacy national news media to overview fully accurately and fairly It is time for a change Carr disclosed Source