Ticker: Paramount Global-Skydance Media Merger Gets FCC Approval

Top of the Ticker: Late Thursday, the Federal Communications Commission approved the long-planned merger between CBS News’ parent company, Paramount Global, and Skydance Media. The nod from the FCC paves the way for the imminent closure of the $8 billion deal. In the past few days, it was revealed that Skydance Media, through its lead attorney, made several concessions to the FCC to obtain the green light for the merger. This includes committing to install an ombudsman to review “complaints of bias or other concerns” at CBS News. The company also confirmed that Paramount eliminated its diversity, equity, and inclusion initiatives.

These concessions follow the $16 million settlement reached by Paramount Global with President Donald Trump over a lawsuit filed in 2024, which accused CBS News of “deceitful” editing during a 60 Minutes interview with former Vice President and then-Democratic presidential candidate Kamala Harris.

Famine concern: BBC News—alongside other major news agencies including the Associated Press, Reuters, and Agence France-Presse—issued a joint statement addressing a potential famine situation that could impact journalists covering the Israel-Hamas war in Gaza. In the joint statement, BBC News said the news organizations are “deeply concerned” about journalists in the region who are “facing the same dire circumstances as those they are covering.” The statement further added, “Journalists endure many deprivations and hardships in war zones. We are deeply alarmed that the threat of starvation is now one of them. We once again urge the Israeli authorities to allow journalists in and out of Gaza. It is essential that adequate food supplies reach the people there.”

FCC objection: Conservative-leaning news network Newsmax filed an objection with the FCC Wednesday challenging any move that would weaken or eliminate the Horizontal Ownership Cap. The filing is in response to the FCC’s issuance of a public notice in June, seeking public comment on whether to retain, revise, or do away with the cap. Newsmax CEO Christopher Ruddy said in the filing, “If networks like CBS, ABC, and NBC were allowed to expand their reach unchecked, they would have even less incentive to produce programming that reflects the values of local communities, particularly those in America’s heartland.”

Second sports deal: Fox Nation struck its second live sports deal, becoming the exclusive broadcast partner for the inaugural matches of new wrestling league Real American Freestyle. Fox News’ streaming service will broadcast the first matchup Saturday, Aug. 30, from Cleveland. RAF was founded by Eric Bischoff, Chad Bronstein, and WWE Hall of Famer Hulk Hogan, who passed away Thursday, July 24.

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