Los Angeles, July 25 -- The U.S. Federal Communications Commission (FCC) announced Thursday that it would allow an 8 billion-U.S.- dollar merger between Paramount and Skydance Media.
The FCC said in a statement that it approved Skydance's acquisition of Paramount Global and its subsidiaries, including the ultimate parent company of the CBS network of owned and operated broadcast television stations, by granting a series of applications that transfer FCC licenses and authorizations.
"Americans no longer trust the legacy national news media to report fully, accurately and fairly. It is time for a change," said FCC Chairman Brendan Carr in the statement, adding: "That is why I welcome Skydance's commitment to making significant changes...