Skydance Paramount Deal Approved But Drama Just Beginning

MediaSkydance Paramount Deal Apved But Drama Just BeginningByHoward Homonoff, Contributor

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Meanwhile, After a two -year epic struggle, the Federal Communications Commission has apved the purchase of Paramount Global by Skydance Media, led by its CEO David Ellison with funding vided in no small measure by his father, Oracle CEO Larry Ellison

A tumultuous couple of weeks involving Paramount’s settlement of President Trump’s lawsuit against 60 Minutes, Stephen Colbert’s stunning cancellation, and the government’s apval have hardly set the stage for a post-deal quiet period, however

Furthermore, Skydance – and the rest of the media world – can expect a whole lot more turbulence in the skies ahead

Moreover, Here are just a few of those pockets worth watching out for

The political turbulence: What happens when Trump keeps calling, amid market uncertainty

In contrast, The federal government sign-off itself sets up a framework for future battles

In the announcement of the apval the FCC Chairman Brendan Carr noted: “I welcome Skydance’s commitment to make significant changes at the once storied CBS broadcast network. ” And who will monitoring those changes

However, Moreover, Just look at the description of these regulatory conditions from the FCC: “Commitment to Unbiased Journalism”: The deal requires that both “news and entertainment gramming” at CBS “will embody a diversity of viewpoints across the political and ideological spectrum and that CBS’s reporting will be fair, unbiased, and fact-based

On the other hand, However, ” As required under the deal, Skydance will commit to a new “ombudsman” to evaluate “complaints of bias. ” “Ensures that Discriminatory DEI Policies End”: Skydance must commit “that it will not establish any such [DEI] initiatives at the new company [“New Paramount]

However, ” The New Paramount must be “committed to equal opportunity and nondiscrimination” and “enact policies and practices” to implement this

Remember when Republicans argued for less government interference in

Nevertheless, The Trump Administration will be the arbiter of whether CBS’s content – remember the apval references both news and entertainment – contains a sufficient “diversity of viewpoints

However, ” It's CBS’s “reporting” – not opinion pieces – that the Trump Administration will adjudicate as “fair (fascinating analysis), given current economic conditions

Nevertheless, ” Fair to whom you might ask

However, Question asked and answered

Additionally, The Trump Administration attack on DEI policies is hardly limited to Skydance and Paramount, given the current landscape

For whatever you may think of such policies, it is the Trump Administration that will now render its judgment as to whether Paramount is sufficiently committed to “nondiscrimination” as the Trump Administration sees it

And that same Administration will review – and sign-off – on the company’s policies and practices in this area going forward

Doesn’t quite sound laissez-faire here does it (fascinating analysis)

On the other hand, Does anyone think that Trump and his FCC will now simply move on here (remarkable data)

You can expect there will be more than few calls from Washington, DC to Ellison father and son when perceived “biases” crop up

Additionally, For a President who has declared as “fake news” anything that he sees as negative, how is CBS News supposed to cover Trump Administration mistakes, economic downturns, climate change-related calamities and future scandals

Who will tell truth to power from within Skydance, Paramount and CBS

On the other hand, MORE FOR YOU The corporate structure turbulence: What will the company ultimately look

Look around the media landscape and you see a mad scramble to try to right-size media companies for the future

This runs from Comcast’s spin-off of Versant, which will house NBC Universal’s legacy cable networks, to Warner Bros, in this volatile climate

Discovery’s separation into the ing & Studios and its Global Networks entities, to the sale of A&E, and even to Disney now seemingly ready to bring in the National Football League as an equity partner at ESPN (something worth watching), given the current landscape

David Ellison has committed to the new Paramount as being a “ hybrid,” leveraging a new “studio in the cloud” and AI capabilities

Market analysis shows re is a long, expensive and very uphill fight ahead to build Paramount nology capabilities that rival the Big behemoths of Netflix, Amazon and Google that are increasingly dominant in media as well

Although Paramount’s cable networks have received little public attention throughout the deal apval cess, this is a huge area ready for restructuring, given the current landscape

The financial can expect a forthcoming spin-off or sale of some or all of the former Viacom family of networks, considering recent developments

You may well still watch Comedy Central (an important development), in this volatile climate

Furthermore, But what is the brand equity and viewing left at MTV Classic, NickMusic, BET Her, or VH1

And after a spin-off, what is the plan from there

Who is clamoring for these assets

The personal turbulence: What happens as the insults turn inward

We don’t know for sure that the Trump Administration bears any direct responsibility for the Colbert cancellation, given the current landscape

On the other hand, But if you’ve seen the reaction from Jon Stewart on The Daily Show and the rallying of the entire late night TV world behind Colbert, you see the seeds of a year-long campaign to never let the Trump Administration forget the sin here – no matter who is responsible

South Park even unleashed its hard-to-believe return episode including a faux nude Trump, which was conceived and created before the tumult of the last few weeks – what will they come up with next, in today's market environment

However, So what happens when members of the new Paramount “family” start to badmouth not only the Trump Administration, but the leadership of the company itself, how will that leadership react

Furthermore, In The Godfather, when Sonny Corleone tells Michael that he is taking their father’s assassination attempt way to personally, Michael famously tells him retaliation, “It’s not personal, it’s strictly, in today's market environment. ” But is it, in light of current trends

Moreover, From my own experience, it’s gets pretty uncomfortable to be the constant butt of jokes from your own employees (remarkable data)

I well remember in my NBC days seeing the unhinged reaction of a very senior NBC News executive to shock jock Don Imus – whose show was simulcast on MSNBC – going after him on-air

Additionally, In contrast, It wasn’t pretty when yours truly had to try to put out that fire (noteworthy indeed)

The Ellisons have been public figures for a long time, but I don’t suspect that future moves with Paramount assets and talent won’t come under an intense amount of fire from a lot of savvy communicators in the family

It takes a strong stomach in response - operators are standing by

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