With this week’s FCC approval, the merger between Paramount Global and Skydance Media is expected to be completed in the coming weeks at a value of $8 billion. The question for the new company is whether the psychic cost is much higher.

Plus, Hulk Hogan, the pro wrestler who brought the sport to new heights of mainstream popularity, died at the age of 71.

Upon the deal’s closing, Skydance and its financial partners are set inject $1.5 billion in cash into Paramount. However, that’s intended to go toward reducing Paramount’s long-term debt ($14.16 billion as of Q1 of 2025) to help stabilize its balance sheet.

Shares of Paramount are set to open higher after the FCC approval its merger but amid ongoing uncertainty about its strategic plans under Skydance Media.

FCC Chairman Brendan Carr was asked to respond to criticisms of the Trump administration's intervention in the free press.

The FCC hinging its approval of the merger on Paramount decommitting from DEI is the latest example of public-sector agendas affecting private-sector talent strategy.

Hours after announcing the approval of Skydance’s merger with Paramount, FCC Chairman Brendan Carr touted the company’s commitment to “addressing bias & restoring fact-based reporting” at CBS News, among other things.

FCC Chairman Brendan Carr said Thursday he was “pleased” with commitments from Skydance Media to reform CBS, as the agency nears a decision on the $8 billion Paramount merger. Skydance submitted a letter this week pledging to hire an ombudsman to address complaints of media bias and to present “a diversity of viewpoints” on CBS