The new chief executive of Paramount repeatedly said on Thursday he doesn’t want to “politicize” the company as its merger with Skydance Media finally closes, two weeks after the Federal Communications Commission approved the $8.4 billion deal between the entertainment firms.
Reporters grilled Paramount Chairman and CEO David Ellison on President Donald Trump’s claim of a side deal. Trump anticipated Skydance would pay an additional $20 million in advertisements, public service announcements, and “similar programming” as part of Trump’s $16 million settlement with Paramount. The company has disputed the rumor, and Ellison avoided the topic altogether.
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“We’re not going to politicize anything today. I’m not going to do that today,” Ellison said during a press event, adding that Skydance has complied with all anti-bribery laws.
Ellison previously led Skydance before the company joined Paramount. The consolidated company is now named “Paramount, a Skydance Corporation.”
Last month, Paramount settled with Trump over his lawsuit against CBS News over a 60 Minutes interview with former Vice President Kamala Harris last fall. Trump accused the program of deceptive editing in the pre-election interview.
Soon after the lawsuit was settled, Trump’s FCC approved the Paramount-Skydance merger.
The deal came days after Skydance promised to eliminate Paramount’s diversity, equity, and inclusion policies once the companies merged. Skydance also said it would appoint an independent ombudsman to ensure CBS publishes unbiased journalism as a solution to Trump’s claims that the broadcaster is biased.
When asked about CBS and whether the news outlet retains its independence, Paramount President Jeff Shell said the ombudsman will be a “transparency vehicle, not an oversight vehicle.”
Ellison reiterated his previous remarks, saying he has “no interest” in commenting on “the political spectrum” regarding CBS.
Democratic lawmakers such as Sen. Elizabeth Warren (D-MA) believed the settlement paved the way for the merger’s approval. CBS and its parent company, Paramount, also faced scrutiny over their decision to cancel Stephen Colbert’s late-night show, the timing of which sparked controversy.
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The merger closed earlier Thursday, with the new company’s stock beginning trading on the Nasdaq.
Meanwhile, FCC Chairman Brendan Carr said on Thursday the agency would continue reviewing a bias complaint made against CBS over the 60 Minutes interview in question. It remains to be seen how the FCC investigation will develop as Paramount’s new leadership gains its footing.