Trump Expresses Support For Skydance Media CEO

Ellison and Shari Redstone

President Donald Trump expressed support Wednesday for Skydance Media CEO David Ellison, stating, “Ellison’s great, he’ll do a great job” running the proposed merged Skydance-Paramount entity, during a press conference on the White House lawn. 

The $8 billion merger, announced in July 2024, awaits FCC approval for the transfer of CBS’s 28 broadcast licenses, a process delayed since the Securities and Exchange Commission and European Commission approved the deal in February 2025. 

The merger, if completed, would see Ellison as chairman and CEO of the combined company, with an enterprise value of $28 billion, funded partly by $6 billion from the Ellison family and $2 billion from RedBird Capital Partners.

The deal faces complications due to Trump’s $20 billion lawsuit against CBS, a Paramount subsidiary, over alleged deceptive editing of a “60 Minutes” interview with Kamala Harris in October 2024. Trump claims the edits constituted “election interference,” while CBS maintains the interview was not doctored, providing full transcripts to the FCC. Paramount and Trump are in active settlement talks, with Paramount offering $15 million, rejected by Trump’s team, who demand at least $25 million and an apology. Some speculate these negotiations could influence the FCC’s review, though FCC Chairman Brendan Carr insists the lawsuit and merger are separate.

Concerns have been raised about potential political interference. 

Three Democratic senators—Elizabeth Warren, Bernie Sanders, and Ron Wyden—warned Paramount’s controlling shareholder, Shari Redstone, that settling the lawsuit could violate federal anti-bribery laws, suggesting a quid pro quo to secure FCC approval. Additionally, the FCC, under Carr, is probing CBS for “news distortion” and has pressed Paramount to eliminate diversity, equity, and inclusion (DEI) programs, aligning with the Trump administration’s anti-DEI stance.

The merger faces further hurdles from shareholder lawsuits in Delaware, alleging Redstone prioritized her interests over other investors, and from Hollywood guilds demanding labor-friendly conditions. The deal’s deadline, initially April 7, 2025, was extended to July 7, 2025, with a possible further extension to October if FCC approval remains pending. If blocked, Paramount could face a $400 million termination fee.