CBS Network Enters New Era: Paramount-Skydance Merger Brings Sweeping Changes to American Broadcasting

Major Transition in American Broadcasting

A significant shift in American broadcasting has occurred as Trump administration regulators approved Skydance Media’s $8 billion acquisition of CBS News parent company Paramount, with the Federal Communications Commission (FCC) giving its final approval on Thursday.

The newly formed entity, dubbed ‘Paramount, a Skydance Corporation,’ now oversees various media and entertainment assets, including CBS, Comedy Central, MTV, Paramount Plus, and an iconic movie studio. The company is under the leadership of CEO David Ellison, son of billionaire Oracle co-founder Larry Ellison.

Editorial Changes and New Direction

Industry observers anticipate a significant shift in the editorial direction of CBS News under its new ownership. In recent filings, Ellison and Skydance have communicated their commitment to pursuing ‘American storytelling’ while promoting a new, ‘unbiased’ editorial direction for CBS News.

Industry insiders believe Ellison will work to eliminate the perceived liberal slant at CBS News. The new management has committed to installing an ombudsman at CBS News and eliminating diversity, equity, and inclusion (DEI) initiatives at the corporation, as confirmed in a letter to FCC Chairman Carr from Skydance’s general counsel.

Impact on Programming and Staff

The transformation of CBS News appears to be a priority for Ellison, who demonstrated his hands-on approach by visiting CBS News’ New York City headquarters immediately after taking control of the merged company, where he attended an editorial meeting and met with key executives, including ’60 Minutes’ executive producer Tanya Simon.

The network faces significant challenges, as CBS currently ranks third in ratings behind ABC and NBC for both evening and morning newscasts. The new leadership aims to restore the network’s reputation and improve its ratings position in the competitive broadcast landscape.

Looking Ahead

As the merger marks what Ellison calls ‘an exciting and pivotal moment,’ the new CEO has outlined his vision to honor Paramount’s legacy while modernizing content delivery, supporting creative talent, enhancing audience experiences, and creating sustainable value for shareholders.