BUZZ-Paramount rises after US clears merger with Skydance

Reuters

07-25

BUZZ-Paramount rises after US clears merger with Skydance

** Paramount Global PARA.O shares rise 1.3% to $13.43 premarket as federal regulators clear way for the storied media co's planned merger with Skydance Media

** U.S. Federal Communications Commission's approval caps months of turmoil at PARA that evolved into a clash over press freedom in the era of President Donald Trump

** Morningstar says now the merger will close soon

** The approval process has already caused some disruption to major, long-standing franchises - MoffettNathanson

** Skydance has given assurances to the regulator about DEI policy elimination at PARA and its intention to review CBS

** Skydance has pledged to appoint an ombudsman for at least two years to address complaints of bias involving CBS

** The approval follows PARA's $16 mln settlement over Trump's lawsuit regarding "60 Minutes" news program

** PARA has recently seen key staff departures at CBS News

** CBS News appointed insider Tanya Simon as executive producer of "60 Minutes"

** As of last close, PARA up ~27% this year

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))

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