Paramount's Stock Climbs on FCC Green Light for $28B Merger as 309th-Ranked $380M Volume Sparks Debate Over Trump Ties and Press Freedom Fears

Paramount Global (PARA) rose 1.61% on July 29, 2025, with a trading volume of $380 million, ranking 309th in market activity. The stock’s performance followed the U.S. Federal Communications Commission’s (FCC) approval of its $8 billion merger with Skydance Media, a deal that has drawn significant political and regulatory scrutiny. The merger, now valued at $28 billion, was cleared by a 2-1 FCC vote, with critics arguing it reflects undue influence from the Trump administration.

The approval came after Paramount settled a $16 million lawsuit with former President Donald Trump, related to a 2024 “60 Minutes” interview with Kamala Harris. The settlement, framed as a financial agreement for Trump’s library and legal fees, has sparked accusations of corporate capitulation. FCC Commissioner Anna Gomez, the sole dissenting vote, condemned the deal as a “cowardly capitulation” that risks eroding press freedom. Skydance, led by David Ellison, has pledged to implement an independent ombudsman for CBS News and pause diversity initiatives, raising concerns about editorial independence.

Political tensions intensified as CBS faced internal upheaval, including the resignation of “60 Minutes” producer Bill Owens and CEO Wendy McMahon. The network’s recent cancellation of Stephen Colbert’s show days after he criticized the Trump settlement further fueled skepticism. Skydance’s plan to restructure Paramount as a “tech hybrid” includes overhauling Paramount+ and shifting toward direct-to-consumer strategies, though critics question the long-term impact on journalistic integrity.

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