The federal supervisory authorities approved the 8 -billion dollars of Paramount with Skydance on Thursday and solved the way to complete a deal, the Hollywood gloss combined with political intrigue.
The stamp of the Federal Communications Commission’s approval takes place after months in which President Donald Trump’s legal dispute revolves with “60 minutes”, the crown jewel of the paramount ownership network CBS. Since the ghost of the Trump management may block the hard-fought deal with Skydance, Paramount agreed at the beginning of this month An agreement of 16 million US dollars with the president.
Critics of the settlement have burdened it as veiled bribes to the summoning of Trump in the middle of the rising alarm over the editorial independence as a whole. Further outrage also emerged after CBS said it was Cancel Stephen Colbert’s “Late Show” Just a few days after the comedian had severely criticized the parent company’s settlement. Paramount cited financial reasons, but big names both within and outside of the company have questioned these motifs.
In an explanation in which the consent of the deal was accompanied, the chairman of the FCC, Brendan Carr welcomed the merger as an opportunity to bring CBS “once”.
“The Americans no longer trust the Legacy National News Media to report completely, precisely and fairly. It’s time for a change,” said Carr.
During the effort of the approval, SkyDance management assured the supervisory authorities that it is carefully observed on the perceived prejudices at CBS News and an ombudsman is hired to check symptoms of fairness. In a Tuesday submissionThe company’s General Counsel of the company claimed that a new paramount “a variety of points of view in the entire political and ideological spectrum” would embody – and also found that it plans to make a “comprehensive review” of CBS to make “all necessary changes”.
The FCC approved the merger with a 2-1 vote, and the regulatory authority, which was therefore going, commented on how it all came together.
“After months of cowardly surrender of this administration, Paramount finally got what it wanted,” said FCC Commissioner Anna Gomez in an explanation. “Unfortunately, it is the American public that will ultimately pay the price for your measures.”
Paramount and Skydance said they wanted to seal the deal by September and now seem to be on one way to reach it until then.
Last year the merger looked regularly as It could fall apart When the two sides were on the terms. But the two companies finally hired an agreement that the combined company estimated with 28 billion US dollars. A consortium led by the Skydance family found that David Ellison and Redbird Capital agreed to invest 8 billion US dollars.
Ellison signaled that a shock accompanied the watchman and emphasized that it would go into a “technical hybrid” in order to remain competitive in today’s entertainment landscape. This includes the plans to rebuild the Paramount+ Streaming Service, under the further efforts to expand the direct offer of direct consumers in a world with more entertainment options and shorter attention span.
Ellison, who is ready to become CEO of the restructured paramount, is the son of Larry Ellison, technology titan and co-founder of oracle. Larry Ellison has not only had an estimated property of $ 288 billion As a friend of Trump.
While Paramount had sweated the regulatory consent of the merger, one of the best -known and longest -running programs of television became a political hot potato when Trump CBS was complained A 60 -minute interview With his opponent of the Democratic Party in the presidential election of last year, Kamala Harris. Presidential candidate. Trump accused “60 minutes” of editing the interview in a misleading way to help Harris win the choice. After first Request compensation of 10 billion US dollarsTrump increased the operation to $ 20 billion while he claimed that he had done it suffered “spiritual fear”.
The case quickly became a closely regarded test whether a company supports its journalists and stood Trump. Processing for shortness of TV journalism is everyday on television and CBS argued that Trump’s claims had no earnings. Reports from managers of companies who later explored a potential settlement with Trump later stacked themselves, especially after Carr – to lead the FCC from Trump. Started an investigation At the beginning of this year.
At the beginning of July, Paramount agreed to pay Trump $ 16 million. The company said that the money would go to Trump’s future presidential library and pay his legal fees, but claimed that it did not apologize or regretted it for history.
The settlement triggered an outcry among critics who used Paramount for the withdrawal of the legal dispute to the probability of completing the parachute language. The US Senator Elizabeth Warren, D-Mass, said that the deal “could be bribery within sight”-and demanded an investigation and new rules to limit donations to presidential libraries.
In terms of editorial independence at CBS, even in the months before the Gestapelt-Mit Paramount was announced, the “60-minute stories” in a new way, as well as journalists in the network, who expressed frustrations about the changes to an award-winning program, which has been a property for almost 57 years, has been a property for almost 57 years
In April the then executive producer of “60 minutes” Bill Owens stepped back – When I found that it was “clear that I was not allowed to guide the show because I always led it”. Another domino fell in May when CBS News CEO Wendy McMahon CEO Also recededCiting disagreements with the company “On the way to the front” with speculation of Paramount, which approaches a settlement with Trump. CBS has since appointed Tanya Simon As a top producer at “60 minutes” – they increase a respected insider in a movement that could be seen as a way to calm the nerves that lead to the changes that the Skydance Ellison is supposed to do.
