New Paramount head doesn’t want to ‘politicize’ company
The new CEO of Paramount,David Ellison,emphasized that he does not want to politicize the company as its $8.4 billion merger with Skydance Media officially closes following approval from the Federal Communications Commission (FCC).during a press event, Ellison avoided commenting on President Donald Trump’s claim of a side deal involving additional payments by Skydance related to Trump’s settlement with Paramount. Ellison reiterated that Skydance has complied with all legal requirements. The merged entity is now called “Paramount,a Skydance Corporation.”
The merger followed a settlement between Paramount and Trump over his lawsuit against CBS News concerning a contested *60 Minutes* interview with Kamala Harris.shortly after this settlement, the FCC approved the merger. Skydance has also promised to eliminate Paramount’s diversity, equity, and inclusion policies and to appoint an autonomous ombudsman aimed at ensuring CBS’s journalistic openness, even though Paramount leadership emphasized that the ombudsman’s role is for transparency rather than oversight.
The merger closed on a Thursday with the company’s stock beginning trading on Nasdaq. Simultaneously occurring, the FCC stated it would continue reviewing a bias complaint against CBS related to the *60 Minutes* interview as the new leadership at Paramount takes charge.
New Paramount head doesn’t want to ‘politicize’ company as merger closes
The new chief executive of Paramount repeatedly said on Thursday he doesn’t want to “politicize” the company as its merger with Skydance Media finally closes, two weeks after the Federal Communications Commission approved the $8.4 billion deal between the entertainment firms.
Reporters grilled Paramount Chairman and CEO David Ellison on President Donald Trump’s claim of a side deal. Trump anticipated Skydance would pay an additional $20 million in advertisements, public service announcements, and “similar programming” as part of Trump’s $16 million settlement with Paramount. The company has disputed the rumor, and Ellison avoided the topic altogether.
“We’re not going to politicize anything today. I’m not going to do that today,” Ellison said during a press event, adding that Skydance has complied with all anti-bribery laws.
Ellison previously led Skydance before the company joined Paramount. The consolidated company is now named “Paramount, a Skydance Corporation.”
Last month, Paramount settled with Trump over his lawsuit against CBS News over a 60 Minutes interview with former Vice President Kamala Harris last fall. Trump accused the program of deceptive editing in the pre-election interview.
Soon after the lawsuit was settled, Trump’s FCC approved the Paramount-Skydance merger.
The deal came days after Skydance promised to eliminate Paramount’s diversity, equity, and inclusion policies once the companies merged. Skydance also said it would appoint an independent ombudsman to ensure CBS publishes unbiased journalism as a solution to Trump’s claims that the broadcaster is biased.
When asked about CBS and whether the news outlet retains its independence, Paramount President Jeff Shell said the ombudsman will be a “transparency vehicle, not an oversight vehicle.”
Ellison reiterated his previous remarks, saying he has “no interest” in commenting on “the political spectrum” regarding CBS.
Democratic lawmakers such as Sen. Elizabeth Warren (D-MA) believed the settlement paved the way for the merger’s approval. CBS and its parent company, Paramount, also faced scrutiny over their decision to cancel Stephen Colbert’s late-night show, the timing of which sparked controversy.
FCC APPROVES $8 BILLION SKYDANCE MERGER WITH PARAMOUNT AFTER DEI ASSURANCES
The merger closed earlier Thursday, with the new company’s stock beginning trading on the Nasdaq.
Meanwhile, FCC Chairman Brendan Carr said on Thursday the agency would continue reviewing a bias complaint made against CBS over the 60 Minutes interview in question. It remains to be seen how the FCC investigation will develop as Paramount’s new leadership gains its footing.
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