Skydance Media and Paramount Global Merger: A Mission Impossible Scenario
Skydance Media’s $8 billion deal to merge with Paramount Global may finally receive regulatory approval, but the process could be as challenging as a “Mission: Impossible” mission. Sources close to the deal reveal that the incoming Trump administration’s Federal Communications Commission (FCC) is discussing merger approval terms that could lead to significant changes for CBS, a network owned by Paramount Global.
The proposed terms suggest that CBS would need to adhere to standards set for US broadcast licensees to be considered “neutral” news organizations. This could entail CBS providing a full transcript of the controversial “60 Minutes” interview with Kamala Harris, which some members of the Trump orbit believe demonstrated biased reporting during the 2024 election.
However, the implications of the approval process extend beyond just one interview. Skydance, known for producing the “Mission: Impossible” franchise, will need to convince the Trump administration that CBS will become a fair and impartial news outlet. This could mean that CBS must refrain from biased news coverage in favor of Democrats, including during presidential debates and in the behavior of its anchors.
Criticism has been directed at CBS moderators for showing bias in debates, as well as at Stephen Colbert, host of the “Late Show,” for his left-leaning commentary and involvement in Democratic fundraisers. The incoming FCC Chairman, Brendan Carr, is reportedly determined to end such left-wing propaganda on CBS in exchange for approving Skydance’s merger. The expectation is for CBS to align with the neutrality standards required of traditional, local TV broadcasters.
Skydance’s ties to David Ellison, backed financially by his father Larry Ellison, a major Trump supporter and co-founder of Oracle, could potentially influence the approval process. However, negotiations have taken a turn following concerns about CBS’s perceived left-leaning bias during the 2024 election. The FCC approval process, spearheaded by Carr, is expected to emphasize the importance of CBS upholding neutrality in its news coverage.
While Skydance remains optimistic about the deal, the FCC approval process may present challenges and additional costs. Larry Ellison’s influence and relationship with Trump could play a role in pushing the deal forward, but the FCC is intent on addressing CBS’s alleged bias and ensuring a commitment to fair and unbiased news reporting.
As the approval process unfolds, it remains to be seen how CBS will navigate the demands for neutrality and how the Trump administration’s scrutiny could impact the merger between Skydance Media and Paramount Global. The mission to align CBS with neutrality standards may prove to be a challenging task, reminiscent of a “Mission: Impossible” operation.
