FCC clears Paramount, Skydance merger
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Paramount Shares Advance On Skydance Merger But Wall Street Cautious - Now "The Real Work Begins"
Shares of Paramount are set to open higher Friday after long-awaited FCC approval for its merger erased a big question mark hovering over the company's future, but amid ongoing uncertainty about its strategic plans under Skydance Media.
Skydance separately promised to appoint a CBS News ombudsman to 'promote transparency and increased accountability' at CBS News. Skydance CEO David Ellison also has met with center-right journalist Bari Weiss.
In meeting with FCC officials, Skydance's David Ellison promised that CBS's "editorial decision-making reflects the varied ideological perspectives of American viewers."
Elizabeth Warren, Bernie Sanders and Ron Wyden also question whether Skydance was involved in discussions to cancel The Late Show with Stephen Colbert
Skydance's CEO told the FCC this week that CBS would reflect "varied ideological perspectives" of U.S. viewers, while touting "American storytelling."