FCC approves Paramount-Skydance deal

The Federal Communications Commission has approved Skydance Media’s A$12 billion takeover of Paramount Global, just hours after a blistering South Park takedown of the Trump administration aired on Paramount-owned stations around the world.

The FCC commissioners voted 2-1 in favour of the sale of Paramount to Skydance, which is owned by Oracle co-founder Larry Ellisson and his family, one of the richest in the US.

FCC chairman Brendan Carr, who was appointed by President Trump, took aim at Paramount-owned CBS in his statement announcing the approval.