Last month, federal regulators approved the long-anticipated merger of Skydance Media and Paramount Global, positioning David Ellison – the founder of Skydance and the son of megabillionaire Larry Ellison – as one of the most powerful figures in US media. Paramount Skydance Corporation, as it is now officially known, is one of a small handful of American media conglomerates, with Paramount Pictures, cable networks such as Comedy Central and MTV, and CBS all under its umbrella. CBS, in turn, runs one of the major US news operations, with nightly news viewership in the millions and 60 Minutes still being the most watched news program on network television.
The implications of the merger are far-reaching and were already being felt ahead of its final approval. In July, Paramount agreed to pay Donald Trump $16m to settle a lawsuit over a 60 Minutes segment the president disapproved of, and a few weeks later, CBS controversially cancelled The Late Show With Stephen Colbert, which many observers speculated was at least partly about jettisoning an outspoken critic of Trump in anticipation of the deal.
