Skydance executives acknowledge what money has learned to get approval for a merger with Shari Redstone's Fading Media Empire Paramount Global to ease bias and, above all, concerns from the Trump administration.
The Ombudsman concept – essentially a layer of control that ensures news content remains free of political bias – may appease Federal Communications Commission chairman Brendan Kerr, one of the nation's top television networks, despite the pledge of objectivity, according to those with knowledge of the matter.
Kerr is weighing his own remedies on CBS News that parties must agree to obtain his blessings, including some kind of surveillance mechanism, these people say.
Sources close to Skydance say the Ombudsman idea is “thinking and liking” by former NBC chief Jeff Shell, who will be running news operations for the merged company.
Sources close to Carr say about the money that FCC chairs “have a few ideas in mind” for a bailout that could end the deadlock. The Ombudsman's idea, this person said it “reflects” what he was thinking.
An FCC spokesman did not have any comments. A Skydance representative also declined to comment.
The FCC is a major regulator of the broadcast media business and a key player in the merger of independent film companies and Paramount. Under federal law, agencies can deny local broadcasting licenses to businesses and derail mergers if they have evidence that news content violates so-called “public interest rules.”
These rules prohibit the broadcast of news against public radio waves (as opposed to cables) that contain obvious political bias. Paramount's squad, CBS News, has been attacked by conservatives for many years because it is said to be a left-wing tilt in programming.
Last month, the FCC delayed approval of the $8 billion deal when it launched a bias investigation into the network. The investigation follows a conservative legal dress complaint that CBS had at first glance compiled a controversial interview with Kamala Harris “60 Minutes” during the 2024 presidential campaign.
As for money, without an acceptable remedy, Carr's investigation has previously reported that it could delay decisions regarding the merger for several months and possibly until the second half. Players, including Skydance Chief David Ellison and Redstone, the increasingly cash-scarred heir to his dad Sumner Redstone troubled media empire, wanted to close the deal by the first quarter of 2025.
Redstone is expected to make $1.8 billion when the combo is inked. Paramount stocks are a much-needed financial lifeline to maintain the wealth of dissipated families due to major structural changes in the media business, including codecuts.
Ellison is the son of Larry Ellison, the co-founder of numerous oracles of President Trump's best friend, Larry Ellison. Elder Ellison is behind some of the deal's financing that meets his son's ambition to exist as a major player in the media business.
Despite Elder Ellison's friendship with Trump, such ambition must wait until the FCC and Kerr satisfy themselves that they are different from the old company with alleged political bias on its straight news program.
“60 Minutes” – Harris' interview has been controversial since it aired on October 7th last year. The then VP and Democratic candidates are known for their Salad answers when they were pressed on a variety of public policy issues, but they gave them an unusually consistent answer under questions from correspondent Bill Whitaker.
Conservative groups, including the American Rights Center or CAR, quickly discovered that CBS had previously aired a promotion for Harris' interviews.
As reported, CAR filed a complaint with the FCC, sparking an investigation and ultimately throwing a Skydance-Paramount deal. A recently released transcript of the interview shows that CBS actually edited the pieces, but says that the network did so to meet time constraints.
Kerr is not impressed by CBS's denial, nor is President Trump, and sources nearby say about the money. When Trump was a GOP presidential candidate, he filed a $20 billion lawsuit alleging that “60 Minutes” had tried to inappropriately support the Harris campaign. Trump demanded the release of the full transcript on top of financial damage. Both sides are said to be in settlement negotiations, but it is unclear how close they are to reaching the deal.
The ABC recently agreed to pay Trump to $15 million to resolve a honour-loss lawsuit over a comment by correspondent George Stephanopulos, which aired as “responsible for rape” by President Trump E. Jean Carroll. The settlement was donated to the Presidential Library.
Even with Trump's incident looming, Carr's investigation remains the biggest fixture in the Skydance Paramount deal. People close to the FCC investigation say there is no major debate about the settlement yet.
FCC staff met with the car last week and expressed their opinions on possible relief packages, as reported in money. They included moving parts of the new company's business from the infamous progressive enclaves in Los Angeles and New York City, and hiring more ideologically diverse people.
