For those running Skydance Media, “quick and clean” regulatory approval for the Paramount Global acquisition has given way to “long and slow” approval — and that's just a matter of luck. , On the Money has learned.
The long-awaited merger will eventually be completed, but will likely remain in regulatory custody for some time, government officials said. Despite ongoing intense lobbying and a reminder to the media world that Larry Ellison, one of the president-elect's biggest backers, is the father of Skydance boss David Ellison. Despite playing the so-called trump card, the new management still does not meet a certain level of “fairness.'' These are conditions that the next administration's regulators will require.
Skydance had hoped to complete the transaction during the first quarter of this year. Incoming Federal Communications Commission Chairman Brendan Carr has indicated that is unlikely, the people added. He won't rubber-stamp the $8 billion partnership, but it does mean that CBS News, Paramount's television subsidiary, will meet the basic FCC standards that all networks (not cable) must meet in order to air their programming. This is because they believe there is evidence that they are acting as they please, in accordance with the rules of fairness. public radio waves.
“Mr. Carr advised that a quick and clean approval is not on the table, and that everything else remains on the table, including whether it is final approval or not,” a source close to the situation said. told On The Money.
Of course, journalism is broadly protected under the First Amendment. But in order for local television to obtain an FCC license to broadcast on the public airwaves, it must meet certain fairness requirements. That means giving both parties equal access to news programs and not overtly taking sides on news programs, especially during political season.
Mr. Kerr is said to be particularly angry at the once prestigious CBS news magazine “60 Minutes.'' As On the Money reported, conservative critics say the network is trying to tip the scales in the 2024 presidential election, favoring an Oct. 7 interview with Democratic presidential candidate Kamala Harris. It is believed that the edits were made to make her arguments more consistent. She said her usual world salad when answering even simple policy questions.
Her edited response came after the network aired a promo that appeared to show Harris stumbling over the same questions that she seemed to be answering more smoothly when the official interview took place.
Before giving the green light to the Paramount deal, Kerr may seek evidence that “60 Minutes'' did not favorably edit the interview. President Trump asked CBS to release the full, unedited transcript, but network executives ignored his request.
Now they may not have a choice. If Kerr finds that any suspicious transactions took place, he is considering requiring assurances that the conduct will not occur again before the FCC approves a network for a local broadcast license, but the ownership It is being reviewed with changes.
CBS denied favorably editing the interview.
On the Money also reports that other items on Carr's radar include a barely sentient president, Joe Biden (who often makes Kamala Harris sound like Winston Churchill); It is reported that this may include a favorable editing of a “60 Minutes'' interview from October 2023, when he thought he was still alive. He's running for the White House.
Another item on Carr's list, and a potential hurdle to approval of the deal, is CBS' so-called diversity equity and inclusion reliance, officials said.
Broadcast networks and Hollywood studios, in particular, have pushed controversial hiring and promotion measures in recent years. Such hiring practices have been criticized as illegal because they are race- and gender-based quotas that give advantages to candidates who meet intersectionality criteria, and are a clear violation of civil rights laws. .
Yes, Skydance and Paramount will be controlled by the younger Ellison, and his management team has told media industry executives that the deal will be approved sooner or later because of Larry Ellison's relationship with Trump. I did.
But President Trump did not name Carr (currently an FCC commissioner and long known in D.C. circles as a flame monger) because he wanted the deal involving liberal media figures to pass unscathed. Ta.
Trump himself has criticized “60 Minutes'' for supporting his opponent during the presidential campaign.
A spokesperson for “60 Minutes'' did not respond to a request for comment about Kerr's editorial concerns. A Skydance spokesperson had no comment. Mr. Kerr declined to comment.
