With this week’s FCC approval, the merger between Paramount Global and Skydance Media is expected to be completed in the coming weeks at a value of $8 billion. The question for the new company is whether the psychic cost is much higher.

But the agreement came with one major caveat: The media company must appoint a “bias monitor.” According to reporting from The Wrap, an FCC “ombudsman” would work directly with New Paramount’s president, Jeff Shell, to review “any complaints of bias or other concerns” regarding CBS News, a subsidiary under Paramount.

"[Brendan] Carr can't justify his actions ... because the FCC meddling in broadcasters' content is illegal too," the foundation's director of advocacy says

Skydance Media said it’s willing to install an ombudsman to review any complaints of bias at CBS as a condition of its pending merger with Paramount Global.

Upon the deal’s closing, Skydance and its financial partners are set inject $1.5 billion in cash into Paramount. However, that’s intended to go toward reducing Paramount’s long-term debt ($14.16 billion as of Q1 of 2025) to help stabilize its balance sheet.