After much consternation, and potentially some logrolling depending on how you look at it, the Trump administration has formally approved Paramount Global’s merger with Skydance Media.
Per a report by CNN’s Brian Stelter and Liam Reilly, FCC commissioners approved the $8 billion transaction in a 2-1 vote. The approval will see Skydance take control of Paramount “in the coming weeks.”
The deal has been in regulatory limbo for months as the Trump administration sued CBS over what it saw as “selective editing” of then-Democratic presidential nominee Kamala Harris during an interview on its flagship news magazine 60 Minutes. Most experts agreed the case was frivolous, but CBS parent company Paramount settled the lawsuit for $16 million anyway, which most saw as a means of clearing the regulatory hurdles for the Skydance deal.
New ownership could have a dramatic impact on CBS Sports. Skydance CEO David Ellison brings with him deep pockets, and industry experts have speculated the newly merged company will be active in negotiations for live sports. Jeff Shell, a former NBC executive who is expected to serve as Paramount’s president under Ellison, has a strong affinity for sports and valued live sports inventory while at NBC.
CBS, of course, is a big player in live sports. The network owns Sunday afternoon NFL games, Big Ten football, the NCAA Men’s Basketball Tournament, the Masters, UEFA Champions League, and more.
The merger will open up a two-year window for the NFL to exercise its change of ownership clause, thereby giving the league an opportunity to renegotiate its deal or find another buyer if it chooses. NFL commissioner Roger Goodell has publicly stated he doesn’t expect to exercise that option, but hasn’t ruled it out completely. Skydance and the NFL already partner on NFL Films, so there is a level of trust already between the two entities.
Regardless of what the NFL chooses, CBS Sports could look plenty different in a matter of a few years should Ellison and Shell choose to be aggressive in acquiring sports rights.
About Drew Lerner
Drew Lerner is a staff writer for Awful Announcing and an aspiring cable subscriber. He previously covered sports media for Sports Media Watch. Future beat writer for the Oasis reunion tour.