Paramount Skydance Merger Includes $7.7 Billion UFC Deal, Legendary Talks, and FCC Inquiry by Senator Schiff

Paramount Global, the parent company of CBS, is advancing its merger with Skydance Media, marked notably by Skydance's $7.7 billion acquisition of UFC broadcast rights, signaling a strategic shift toward live sports streaming. This move underscores the company's ambition to strengthen its position in the competitive streaming market. Democratic Senator Adam Schiff has raised concerns with the Federal Communications Commission (FCC), requesting disclosure on whether former President Donald Trump sought programming or media coverage commitments during the FCC's review of the merger. Schiff described these inquiries as raising important questions about the FCC's approval process. Meanwhile, Paramount is reportedly in discussions with Legendary Entertainment to establish an output theatrical deal, excluding key franchises such as Dune and the Monsterverse. The merger's impact on existing properties like the television series "Reacher" is also under scrutiny, with industry observers considering the broader implications for content and partnerships amid the evolving media landscape.