Paramount Shares Climb 0.38% on Skydance Merger Approval Trading Volume Ranks 287th

Paramount Global (PARA) rose 0.38% on July 30 with a trading volume of $0.43 billion, ranking 287th in daily activity. The stock’s movement coincided with the finalized $8 billion merger with Skydance, approved by the FCC after concessions to address regulatory concerns. Skydance committed to dismantling Paramount’s diversity, equity, and inclusion (DEI) initiatives and establishing an ombudsman to monitor bias in CBS News programming.

Internal CBS News sources expressed unease over the merger’s implications, with one insider describing the ombudsman as a “hall monitor” that signals skepticism about new ownership’s stance on journalistic independence. The merger reinforces Skydance’s pledge to eliminate DEI-based hiring metrics and prioritize merit-driven talent acquisition, aligning with FCC Chair Brendan Carr’s emphasis on “diversity of viewpoints” in media. However, critics argue these changes risk undermining editorial integrity and exacerbating political polarization.

The deal’s approval followed a $16 million settlement with former President Donald Trump over alleged bias in a 2024 *60 Minutes* interview with Vice President Kamala Harris. The settlement, which Trump described as “baseless” in court filings, was widely viewed as a strategic move to secure regulatory approval. Meanwhile, CBS’s cancellation of *The Late Show With Stephen Colbert*—a show critical of Trump—fueled speculation about editorial interference, though executives denied any link to the merger.

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