Federal regulators OK Paramount’s $8 billion take care of Skydance
Politics
Critics of the settlement lambasted it as a veiled a bribe to appease Trump, amid rising alarm over editorial independence total.
NEW YORK (AP) — Federal regulators on Thursday accepted Paramount’s $8 billion merger with Skydance, clearing the best way to shut a deal that mixed Hollywood glitz with political intrigue.
The stamp of approval from the Federal Communications Fee comes after months of turmoil revolving round President Donald Trump’s authorized battle with “60 Minutes,” the crown jewel of Paramount-owned broadcast community CBS. With the specter of the Trump administration probably blocking the hard-fought take care of Skydance, Paramount earlier this month agreed to pay a $16 million settlement with the President.
Critics of the settlement lambasted it as a veiled a bribe to appease Trump, amid rising alarm over editorial independence total. Additional outrage additionally emerged after CBS mentioned it was canceling Stephen Colbert’s “Late Present” simply days after the comic sharply criticized the mother or father firm’s settlement on air. Paramount cited monetary causes, however large names each inside and out of doors the corporate have questioned these motives.
In an announcement accompanying the deal’s approval, FCC Chairman Brendan Carr hailed the merger as a possibility to carry extra steadiness to “once-storied” CBS community.
“People now not belief the legacy nationwide information media to report totally, precisely, and pretty. It’s time for a change,” Carr mentioned.
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