David Letterman blasts CBS and Skydance 'goons'
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CBS, FCC and Skydance
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Paramount and Skydance announced Friday that, with the Trump administration’s approval, the highly anticipated merger between the entertainment giants is expected to take place next month. The Aug. 7 date,
FCC chairman Brendan Carr praised Skydance Media's commitment to hire an ombudsman for CBS News after it completes its merger with Paramount Global.
"I was very pleased to see Skydance put in a filing that says, 'If this deal goes through, they are committing to serious changes at CBS. I think that would be a good thing," Carr told reporters on Thursday during a press conference following the agency's Open Commission meeting.
Skydance Media has made additional promises to the FCC in an effort to get approval for its $8 billion merger with Paramount Global.
Hours after announcing the approval of Skydance’s merger with Paramount, FCC Chairman Brendan Carr touted the company’s commitment to “addressing bias & restoring fact-based reporting” at CBS News, among other things.
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Upon the deal’s closing, Skydance and its financial partners are set inject $1.5 billion in cash into Paramount. However, that’s intended to go toward reducing Paramount’s long-term debt ($14.16 billion as of Q1 of 2025) to help stabilize its balance sheet.