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.
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.
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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.
The $8 billion deal's green light comes after CBS reached a $16 million settlement with Donald Trump over his lawsuit against "60 Minutes"
FCC commissioner Brendan Carr says CBS will have a "bias monitor" who reports directly to the president of Paramount. The Federal Communications Commission finally approved an $8 billion merger between Paramount and Skydance on Thursday after several changes at CBS that were widely seen as efforts to placate President Donald Trump.
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.