The FCC approved the transfer of CBS licenses to Skydance's ownership group, paving the way to the merger of Skydance and Paramount.

Skydance committed to removing DEI programs and establishing a bias complaint system at CBS News as it seeks FCC approval for Paramount merger.

But the agreement came with one major caveat: The media company must appoint a “bias monitor.” According to reporting from The Wrap, an FCC “ombudsman” would work directly with New Paramount’s president, Jeff Shell, to review “any complaints of bias or other concerns” regarding CBS News, a subsidiary under Paramount.

The FCC's approval, which was necessary for the deal to move forward, caps a long-running corporate saga over the fate of Paramount, which owns Paramount+, the Paramount Pictures movie and television studios, the CBS television network and CBS News and Stations. Paramount also owns Nickelodeon, BET, MTV, Comedy Central and other media brands.

The FCC approved Skydance Media's $8 billion bid to acquire Paramount, the parent company of CBS. The green light from the FCC comes after Paramount agreed to a $16 million settlement with President Trump over his lawsuit accusing “60 Minutes” of deceptively editing an interview with then-presidential candidate Kamala Harris.

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Skydance’s general counsel, Stephanie Kyoko McKinnon, noted that the FCC, in evaluating Comcast’s proposed acquisition of NBCUniversal in 2011, found that an ombudsman was a “mechanism effective in preventing editorial bias in the operation of the NBC broadcast network.”

Skydance Media has made additional promises to the FCC in an effort to get approval for its $8 billion merger with Paramount Global.

As Skydance looks to close its $8 billion merger with Paramount, the David Ellison-led studio has sent new letters to the FCC committing to the appointment of an ombudsman and the elimination of the media giant's diversity,

When the FCC approved the Paramount-Skydance merger Thursday, one commissioner blasted the decision, calling it an act of “ cowardly capitulation ” on behalf of Paramount and warning that this could lead to a further “erosion of our First Amendment protections.”

Skydance needs FCC approval in order to take over Paramount. It’s now promising to root out “bias” at CBS News in order to get it.

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.