The signoff on the deal, which could close next month, follows Paramount's settlement of a Trump lawsuit.
The FCC on Thursday finally signed off on the marriage of Skydance Media and Paramount Global. The $8 billion deal has faced myriad challenges on its way to the finish line but will be made official in the coming days by the companies. No shareholder vote or other approvals are required.
Paramount's merger with Skydance offers an attractive arbitrage opportunity, with a buyout price of $15 versus the current $13 share price. Regulatory delays, particularly FCC approval and political demands, are extending the deal timeline and adding uncertainty to the merger's completion. Rising short interest and declining stock availability are creating unusual technical dynamics, potentially increasing borrow costs and volatility for arbitrageurs.
Paramount Global PARA has reached a five-year, $1.5 billion global streaming deal with the creators of the long-running animated hit “South Park,” according to the Los Angeles Times.
Paramount Global's stock is up 25% this year. What's driving it is the pending merger between Paramount and Skydance Media.
The news that Paramount settled with President Trump for $16 million over alleged 60 Minutes edits that Trump alleged favored then Vice President Kamala Harris prompted criticism from some in the media. When Harris was asked about the Biden administration's relationship with Israel's prime minister, CBS producers used different portions of her answer on two programs.
Concerns about bribery allegations, angry CBS News staff and a looming high-stakes merger made for tense months-long negotiations.
Paramount Global settled Trump's $20 billion lawsuit against CBS News without issuing an apology as CEO George Cheeks said he wanted to avoid legal costs and business distractions.
US media group Paramount has agreed to pay $16m (£11.6m) to settle a lawsuit filed by Donald Trump over what he alleged was a misleading interview with the former vice president Kamala Harris.
Paramount Global's $8 billion merger with Skydance Media has faced opposition from the Trump administration.
Paramount Global (PARA) has reportedly agreed in principle to pay President Donald Trump $16 million to settle his lawsuit over a CBS interview with former Vice President Kamala Harris.