FCC clears Paramount, Skydance merger
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David Ellison, an actor-turned-producer and son of centibillionaire Larry Ellison, will helm Paramount after its merger with his Skydance media company is complete.
David Letterman unloaded on CBS and Skydance on Friday for cancelling “The Late Show,” which he launched 32 years ago, saying the network had mistreated his successor, Stephen Colbert. In an interview posted to his YouTube channel,
Skydance separately promised to appoint a CBS News ombudsman to 'promote transparency and increased accountability' at CBS News. Skydance CEO David Ellison also has met with center-right journalist Bari Weiss.
Upon closing of Paramount Global and Skydance Media's $8 billion merger, Oracle co-founder and chairman Larry Ellison will hold a minority voting interest of approximately 35.5% in the combined company.
Skydance Media has made additional promises to the FCC in an effort to get approval for its $8 billion merger with Paramount Global.
David Ellison met this week with Brendan Carr and FCC staffers to discuss the Paramount Global merger which is still under agency review.
Elizabeth Warren, Bernie Sanders and Ron Wyden also question whether Skydance was involved in discussions to cancel The Late Show with Stephen Colbert
The Federal Communications Commission approved the sale of Paramount Global after the buyer made pledges to showcase a diversity of viewpoints and root out alleged bias in CBS' news coverage.