Paramount and Skydance introduced Friday that, with the Trump administration’s approval, the extremely anticipated merger between the leisure giants is predicted to happen subsequent month.
The Aug. 7 date, unveiled in a press launch, comes after the Federal Communications Fee (FCC) on Thursday allowed Skydance’s acquisition of Paramount to maneuver ahead after the merger was first proposed final 12 months.
FCC Chair Brendan Carr in asserting the choice stated he welcomed Skydance’s dedication to remaining “unbiased” in its journalism and willingness to advertise “a variety of viewpoints throughout the political and ideological spectrum.”
“Americans no longer trust the legacy national news media to report fully, accurately, and fairly,” Carr added. “It is time for a change.”
The transfer caps off months of turmoil between Paramount International, the dad or mum firm of CBS, and President Trump. Trump sued CBS’s “60 Minutes” final 12 months after he argued an interview it aired with former Vice President Harris was altered in her favor throughout the 2024 presidential election cycle.
Whereas the corporate fought the claims, together with releasing a full transcript from the episode, it in the end settled with the administration for $16 million. These funds are set to go to Trump’s eventual presidential library.
The information outlet has additionally confronted criticism in latest days after CBS made the choice to sundown “The Late Show with Stephen Colbert” subsequent Might, after greater than 30 years on air. Paramount stated the transfer was primarily based on funds, however critics have argued the settlement and Skydance deal had been possible concerned — and bribery allegations have been floated.
Comic Stephen Colbert, who has hosted the present since 2015, has been brazenly vital of the merger. Colbert blasted the community earlier this week for selecting to axe the present and thanked those that have reached out in assist, together with Democrats, press freedom advocates and lots of of his late-night counterparts.
He added that “one key mistake” the community made when shifting ahead with the plan is that “they left me alive.”
Colbert additionally lashed out at Trump after the president stated in a publish on-line that he “absolutely” beloved that the comic was getting “fired.”
“How dare you, sir,” the host responded. “Would an untalented man be able to compose the following satirical witticism: ‘Go f‑‑‑ yourself.’”
Underneath the phrases of the $8 billion merger, the corporate will turn out to be “New Paramount” and can be led by Trump-ally and billionaire David Ellison, the son of tech tycoon and Oracle founder Larry Ellison.
