Skydance executives pitch FCC on Paramount acquisition amid content strategy questions

Skydance Media CEO David Ellison and his legal counsel met with Federal Communications Commission Chairman Brendan Carr on July 15 to advocate for approval of the company’s pending acquisition of Paramount Global, according to a regulatory filing submitted this week.

The meeting, documented in a letter from Latham & Watkins attorney Matthew A. Brill to FCC Secretary Marlene H. Dortch, focused on what Ellison’s team characterized as the “public interest benefits” of transferring control of Paramount’s broadcast licenses to the Skydance consortium.

Ellison, accompanied by Brill, met with Carr, his chief of staff Greg Watson, and Ben Arden, special counsel in the Office of the Bureau Chief of the Media Bureau.

The executives urged the Media Bureau to “promptly grant” the applications for license transfer, emphasizing their vision for maintaining CBS’s broadcast operations while addressing contemporary media challenges.

“[W]e explained the Ellison family and RedBird represent fresh leadership with the vision and experience needed to drive New Paramount’s long-term growth in the face of the challenges presented by today’s media landscape, all while preserving and enhancing the legacy and broad reach of both the national CBS television network and the company’s 28 owned-and-operated local television stations,” Brill wrote in the filing.

The meeting occurred two days before CBS announced the cancellation of “The Late Show with Stephen Colbert” after its upcoming season concludes in May 2026. The network cited “financial” reasons for ending the program, which has aired since 2015. The timing has drawn criticism from industry groups, including the Writers Guild of America, which suggested the decision could be related to seeking favor with the Trump administration during the merger review process.

During the FCC meeting, Skydance representatives addressed concerns about foreign influence over the merged entity, specifically responding to what they termed “erroneous claims regarding Chinese influence on RedBird and New Paramount.” The filing states that Tencent would hold less than 5 percent in publicly traded shares with no governance or informational rights.

“[W]e discussed Skydance’s commitment to unbiased journalism and its embrace of diverse viewpoints, principles that will ensure CBS’s editorial decision-making reflects the varied ideological perspectives of American viewers,” according to the filing.

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The Skydance consortium includes entities controlled by the Ellison family and RB Tentpole LP, a fund vehicle controlled by RedBird Capital Partners. The group’s acquisition of Paramount Global requires FCC approval for the transfer of broadcast licenses, as CBS operates both a national television network and 28 owned-and-operated local stations.

The regulatory review comes as traditional broadcast networks face declining viewership and advertising revenue, prompting consolidation across the media industry.

Skydance, known primarily for film production, including the recent “Top Gun: Maverick,” would gain control of one of the four major U.S. broadcast networks through the transaction.

CBS affiliates seek FCC conditions on Paramount-Skydance merger to protect local news operations

More than 30 petitions have been filed regarding the Paramount transaction, with some raising concerns about potential foreign influence and editorial independence. 

The FCC has not indicated a timeline for its decision on the license transfer applications.