The Federal Communications Fee on Thursday accredited the merger between Paramount World and Skydance Media, clearing the best way for an $8.4 billion sale of a few of the most distinguished names in leisure, together with the CBS broadcast tv community, Paramount Footage, and the Nickelodeon cable channel.
The FCC agreed to switch broadcast licenses for 28 owned-and-operated CBS tv stations to the brand new homeowners after Paramount paid $16 million to settle a lawsuit filed by President Trump over a “60 Minutes” interview with former Vice President Kamala Harris that aired in October.
Federal Communications Fee Chairman Brendan Carr has stated the company’s evaluate of the proposed merger was not linked to the civil go well with.
The approval got here after Skydance and its funding accomplice, RedBird Capital, assured the FCC of their dedication to unbiased journalism that represents numerous viewpoints.
Skydance stated it might appoint an ombudsman to guage complaints of editorial bias or different considerations about CBS in an effort to advertise transparency and elevated accountability.
Paramount additionally eradicated its range, fairness, and inclusion initiatives to align with the Trump administration’s view that such affirmative motion insurance policies are discriminatory.
This can be a creating story. Please verify again for updates.
Keep forward of the curve with NextBusiness 24. Discover extra tales, subscribe to our e-newsletter, and be part of our rising group at nextbusiness24.com