US Regulator Approves $10.7b Paramount-Skydance Merger

It Clears the Way for a Sale That Evolved Into a Clash Over Press Freedom in the Trump Era

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LOS ANGELES — The US$8.4 billion (S$10.7 billion) merger between Paramount Global and Skydance Media won approval from the US regulator on July 24, clearing the way for a sale that evolved into a clash over press freedom in the era of US President Donald Trump.

The deal will put well-known entertainment properties including the CBS broadcast television network, Paramount Pictures, and the Nickelodeon cable channel under the ownership of tech scion David Ellison, son of Oracle co-founder Larry Ellison.

Paramount in July paid US$16 million in a controversial move to settle a lawsuit Mr. Trump had filed against the company and CBS News, sparking accusations it effectively had paid for approval of the merger.

The Federal Communications Commission (FCC) approved the deal in a partisan 2-1 vote that allows the transfer of CBS television stations. FCC chairman Brendan Carr, an appointee of Republican Trump, said the agency had received assurances from the incoming owners that they were committed to unbiased journalism.