Executive at Paramount Global can breathe a sigh of relief with FCC approval of its $8 billion merger with Skydance Media

"Morning Joe" co-host Joe Scarborough warned Republicans they will suffer "blowback" for the $8 billion Paramount-Skydance merger

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.

With the FCC having cleared the Skydance Media-Paramount merger and the deal set to close in a matter of weeks, Paramount Global co-CEO Chris McCarthy will leave the media conglomerate, a company source confirmed to Variety.

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.

Federal government regulators approve an $8 billion merger between Paramount and Skydance. Jerome Powell pushes back during Donald Trump’s visit to the Federal Reserve’s headquarters. And the woman behind the viral “Jet2 holiday” soundbite is surprised at its popularity.

FCC Commissioner Anna Gomez has issued a scathing statement of dissent following the approval of the Paramount and Skydance Media deal on Thursday, noting the merger marks a “direct violation of the first amendment.”

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