The Media Bureau of the FCC has gone ahead and established a window of opportunity for the public to chime in on the proposed transaction that will make the parent of CBS News & Stations wholly owned by Skydance Media, following its purchase of National Amusement, Inc., from Shari Redstone.
Importantly, a “Petition to Deny Date” is affirmed.
On August 29, a series of filings made with the FCC put it in position to approve the transfer of control of the Redstone-controlled NAI to Skydance, the Southern California-based entity led by David Ellison.
The filings were accepted on Friday (9/6), and rather than give it a rubber-stamp approval, Holly Saurer, the Chief of the Media Bureau, and her team are accepting public input on the proposed deal, detailed by RBR+TVBR in late August.
With “MB Docket No. 24-275” assigned to the transfer of control consideration, three important deadlines were put in place:
Petition to Deny Date: October 7, 2024
Opposition Date: October 22, 2024
Reply Date: November 1, 2024
A 448-page “Comprehensive Exhibit” was submitted for each of the CBS-affiliated and independent television stations licensed to the Sumner M. Redstone National Amusements Part B General Trust.
The stations in this trust are being transferred to Sayonara, LLC, an affiliated entity of Skydance Media.
In short, FCC consent is sought for the transfer of control of Paramount Global broadcast stations from controlling shareholder NAI, led by Shari Redstone, to investors in Skydance.
This includes member of the Ellison family and RedBird Capital Partners.
Once the transaction closes, NAI will be owned and controlled by Pinnacle Media, controlled by the Ellisons.
