Acquisition of Paramount by Skydance Greenlit by US Regulatory Body - Regulatory bodies in the US approve takeover of Paramount by Skydance.
In an unexpected turn of events, the acquisition of Paramount Pictures by Skydance Media has been shrouded in controversy. The US Federal Communications Commission (FCC) recently approved the merger, but questions remain about the circumstances leading up to the deal.
The centre of the storm is the cancellation of "The Late Show with Stephen Colbert," a popular late-night talk show on CBS. The show, known for its sharp political satire, was abruptly cancelled for next year, with CBS attributing the decision to a purely financial one, unconnected to the show's content or other Paramount matters.
The cancellation followed a lawsuit filed by then-President Donald Trump against CBS over an interview with Vice President Kamala Harris on CBS. Trump accused the network of editing Harris' response to cover up her "word salad." Despite the lawsuit being dismissed as baseless by legal experts, CBS agreed to pay $16 million as part of the settlement.
The interview in question was conducted earlier this month, and the lawsuit settlement involves Paramount, US President Donald Trump, and CBS. The settlement pertains to an allegation of edited interview response by CBS.
Media analysts, such as Jeff Cohen from the media watchdog FAIR, suggest that Paramount may have agreed to cancel "The Late Show" and potentially silence other critical programming as part of a tacit deal with the Trump administration to secure favorable FCC merger approval conditions with Skydance. According to a July 23, 2025 Democracy Now! report, Colbert's show was cancelled just days after he publicly criticized Paramount for settling the lawsuit brought by President Trump, calling the settlement "a big fat bribe" on his program.
Critics have accused Paramount Pictures of buying the president's favor to secure FCC approval for its acquisition of Skydance. Skydance has agreed to scrap diversity programs at Paramount as part of the acquisition, fuelling these concerns.
Stephen Colbert, host of "The Late Show," is one of Donald Trump's sharpest critics. The US satirist referred to the payment as "fat bribery," adding to the speculations surrounding the cancellation of his show.
It is important to note that CBS is a production company, not a broadcaster. As such, the FCC's statement regarding the acquisition did not focus on competition preservation or the activities of the two companies.
In the larger picture, this incident is seen as part of a broader trend over decades where media conglomerates prioritize profit and political expediency over press freedom, implying that the erosion of independent journalism is systemic.
As the dust settles, the true reasons behind the cancellation of "The Late Show" and the approval of the Paramount-Skydance acquisition remain a topic of hot debate.
- The recent approval of the takeover of Paramount Pictures by Skydance Media, especially amidst the controversy surrounding the cancellation of "The Late Show with Stephen Colbert," has raised questions about potential financial deals with political figures, such as former US president Donald Trump.
- The US Federal Communications Commission (FCC) did not focus on competition preservation or the activities of the two companies in its statement regarding the acquisition of Paramount Pictures by Skydance, owing to CBS being a production company rather than a broadcaster.
- Media analysts have suggested that the cancellation of "The Late Show" by Paramount Pictures and the agreement to scrap diversity programs at Paramount as part of the acquisition could be tied to a tacit deal with the Trump administration, bargained in exchange for favorable FCC merger approval conditions.
