Paramount and Skydance merger approved and Trump visits Powell at Federal Reserve: Morning Rundown

Federal government regulators approve an $8 billion merger between Paramount and Skydance.

Federal government regulators approve an $8 billion merger between Paramount and Skydance. Jerome Powell pushes back during Donald Trump’s visit to the Federal Reserve’s headquarters. And the woman behind the viral “Jet2 holiday” soundbite is surprised at its popularity.

Here’s what to know today.

The Federal Communications Commission said it had approved Skydance Media’s $8 billion bid to acquire CBS News parent company Paramount after Skydance made several concessions to the Trump administration. The merger paves the way for a tectonic shift in ownership of one of America’s three major networks. FCC Chairman Brendan Carr said in a news release that the move would bring change to CBS News’ coverage, claiming “Americans no longer trust legacy national news media to report fully, accurately, and fairly.”

Among the concessions that Skydance made with regulators was an agreement to not implement any DEI programs. The company also said it would “undertake a comprehensive review” of CBS and install an ombudsman for at least two years who will consider “complaints of bias” at CBS News. Other companies that have billion-dollar transactions pending before the FCC have also backed off DEI programs, including Verizon and T-Mobile.

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