UPDATE: Skydance Media CEO David Ellison met with FCC Chairman Brendan Carr on July 15, 2023, in a crucial effort to finalize approval for the acquisition of Paramount Global. This meeting, which included Carr’s chief of staff and special counsel, signals that the FCC is nearing a decision on the transfer of CBS broadcast licenses, making this an urgent moment for the media landscape.
During the meeting, Ellison emphasized Skydance’s commitment to unbiased journalism and diverse viewpoints, key principles that he argues will ensure that CBS reflects the varied ideological perspectives of American viewers. According to an ex parte filing submitted to the FCC, Ellison stated, “We explained the Ellison family and RedBird represent fresh leadership with the vision needed to drive New Paramount’s long-term growth.”
The push comes as organizations like the Teamsters and the Center for American Rights advocate for specific concessions from the FCC. Last week, representatives from the CBS Television Network Affiliates Association also met with the FCC to request guarantees regarding local resources, highlighting the importance of local engagement in the transition.
Ellison’s meeting underscores the urgency surrounding the deal, especially following Paramount’s recent $16 million settlement with former President Trump and the shocking cancellation of the Late Show with Stephen Colbert. These developments have intensified scrutiny on the company, as stakeholders await the FCC’s next move.
The topic of diversity, equity, and inclusion (DEI) was also addressed in the meeting. The FCC has indicated that any company seeking to finalize a deal must agree to end support for certain DEI programs. Skydance’s filing noted a commitment to promoting non-discrimination and equal employment opportunity, suggesting readiness to comply with the precedent set by other companies under review, such as T-Mobile and Verizon.
Ellison also responded to concerns regarding a stake held by the Chinese company Tencent, clarifying that it is a non-voting, passive stake that will amount to less than 5% of the company’s equity post-deal. He assured stakeholders that he will lead New Paramount with a talented team focused on American storytelling, devoid of any foreign influence.
As the FCC prepares to make its decision, the future of Paramount hangs in the balance. Ellison’s proactive approach indicates that significant changes could be on the horizon, pending the outcome of this pivotal approval process.
Stay tuned for further updates as developments unfold. This situation is rapidly changing, and the implications for the media landscape are monumental.
