Why the Paramount-Skydance merger remains in FCC purgatory

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FCC Chairman Brendan Carr is not impressed with CBS, and it may have significant consequences for the Tiffany Network, according to sources from On The Money.

The issue at hand is CBS’s recent plea to the Federal Communications Commission and Carr to cease its investigation into alleged violations of the agency’s “public interest rules” related to the controversial “60 Minutes” interview with Kamala Harris.

This investigation has been a thorn in the network’s side, casting doubt on its internal ethics. It is believed that CBS unfairly edited the interview with the Democratic presidential candidate to portray her in a favorable light during the 2024 election. Furthermore, this investigation is a crucial factor delaying FCC approval for CBS parent Paramount’s sale to independent movie studio Skydance.

FCC boss Brendan Carr believes CBS has done nothing to bring the commission’s investigation to an end, including a fix for the alleged pervasive bias in its programming. Jack Forbes / NY Post Design

CBS recently stated in a filing that the release of the full transcript of the interview proves its innocence in the editing process, and therefore, the case should be closed. However, Carr has rejected this proposal and confirmed that the investigation will continue.

According to sources from On The Money, Carr expressed strong dissatisfaction with the network’s actions.

It is believed that CBS has not taken any steps to resolve the investigation, including addressing the alleged bias in its programming, as per individuals familiar with the situation.

One FCC official familiar with Carr’s stance stated, “The case is far from being resolved at the moment. CBS could potentially offer substantial remedies to settle the case, but that seems unlikely as of now.”

An FCC representative did not respond to a request for comment, while a CBS spokesperson declined to provide a statement.

With no settlement discussions in sight, the FCC’s investigation could continue for several weeks or even months, further delaying the Paramount-Skydance deal.