The United States Federal Communications Commission (FCC) has initiated discussions with Paramount Global regarding its proposed merger with Skydance Media. The Wall Street Journal reported that these discussions center on securing the agency's approval. One key area of focus involves Paramount Global's commitment to abstaining from certain corporate diversity initiatives.
FCC Chairman Brendan Carr has previously advocated for telecom and media companies to limit their diversity, equity, and inclusion policies as a condition for merger and acquisition approvals. Additionally, a complaint concerning an interview with Democratic Presidential candidate Kamala Harris is reportedly under consideration as part of the review process.
On April 30, discussions will commence regarding a $20 billion lawsuit filed by the US president against CBS. The resignation of Bill Owens, a 60 Minutes producer, adds another layer of complexity. Owens cited concerns about the potential erosion of the program's independence from even the CBS News division.
The FCC's involvement stems from the fact that the Paramount-Skydance deal necessitates the transfer of broadcast television licenses held by the CBS network. Last July, Skydance and its investors finalized an agreement to acquire National Amusements, the Redstone family company that previously controlled Paramount, for over $8 billion.