Cleared with remedies

FCC case Applications for Consent to the Transfer of Control of Paramount Global, MB Docket No. 24-275 (FCC 25-43): Skydance / CBS and Paramount Pictures

The United States Federal Communications Commission cleared, subject to remedies, Skydance's acquisition of CBS and Paramount Pictures on 24 July 2025 (case Applications for Consent to the Transfer of Control of Paramount Global, MB Docket No. 24-275 (FCC 25-43)).^[1]

The FCC granted the transfer of control of Paramount Global, including its CBS owned-and-operated television stations, from the Redstone-controlled National Amusements to Skydance and the Ellison family, with Commissioner Gomez dissenting. The order found no material public interest harm and granted the applications on the strength of commitments from Skydance that it described as firm and definite, although they were not written into the licences as formal conditions.

Decision facts

Regulator: United States Federal Communications Commission (US)
Case number: Applications for Consent to the Transfer of Control of Paramount Global, MB Docket No. 24-275 (FCC 25-43)
Decision: Cleared with remedies
Decided: 24 July 2025
Legal basis: Communications Act of 1934, section 310(d) (transfer of control of broadcast and other licences); public interest standard

Remedies

behavioural — An ombudsman reporting to the President of the combined company for at least two years, to evaluate complaints of bias involving CBS.
behavioural — No diversity, equity and inclusion programmes to be established, with Paramount's existing DEI initiatives confirmed as ended.
behavioural — Programming to reflect a diversity of viewpoints, with fair, unbiased and fact-based reporting at CBS, and a reaffirmed commitment to local news.

The deal under review

Acquisition closed Closed 7 August 2025

Skydance acquires CBS and Paramount Pictures

Skydance Media, controlled by the Ellison family, combined with Paramount Global to form Paramount Skydance Corporation, ending the control National Amusements and the Redstone family had held over CBS and Paramount Pictures. Paramount Class A holders could take $23.00 in cash a share and Class B holders $15.00, and because the deal transferred control of CBS's television station licences it needed the consent of the Federal Communications Commission, which granted it over one commissioner's dissent.

Value: $8bn
Buyer: Skydance
Seller: National Amusements
Regulatory: Cleared with remedies

Sources (1) & corrections

Last verified 24 July 2025. Every ownership fact above is backed by one of these primary documents. Numbers in brackets in the text refer to this list.

[1] Memorandum Opinion and Order, FCC 25-43, MB Docket No. 24-275 — Federal Communications Commission, Regulator decision, published 24 July 2025; retrieved 16 September 2026.

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