Former CBS Anchor Warns Paramount Merger Spells End for Network and Honest Journalism

The Concerns Over the Paramount and Skydance Merger

The recent merger between Paramount Global and Skydance Media has sparked significant concern among media professionals, particularly former CBS anchor Connie Chung. On CNN, Chung expressed her fears that this merger could mark the end of the kind of journalism she once knew. She emphasized that the deal, which was approved by the Federal Communications Commission (FCC) on Thursday, could lead to a loss of independence for CBS, which Paramount owns.

The merger, valued at $8 billion, is set to close on August 7. This comes after several controversies involving CBS, including a lawsuit settlement with former President Donald Trump over a "60 Minutes" segment and the cancellation of "The Late Show with Stephen Colbert." These events have raised questions about the direction of the network and its commitment to journalistic integrity.

A Shift in Journalism?

Chung, who once anchored "CBS Evening News," suggested that the newly formed company, Paramount Skydance Corp., might compromise the autonomy of CBS. She highlighted the importance of an independent news division that is free from political pressures and financial influences. "CBS was always a standalone network. It was autonomous. The news division was autonomous, and it was always unencumbered by pressures from politicians, including presidents, and unencumbered by bean counters," she said.

She also lamented the decline of honest, unbiased, fact-based journalism. Chung referenced legendary journalists like Edward R. Murrow and Walter Cronkite, whose work represented a golden era of journalism. She also mentioned Frank Stanton, the former president of CBS, who was known for defending the rights of the press and the First Amendment.

Blame on Leadership and Corporate Decisions

Chung placed much of the blame on Shari Redstone, the controlling shareholder of Paramount, and David Ellison, CEO of Skydance Media, for what she described as "tainted journalism" driven by greed. She criticized the company's decision not to implement new diversity, equity, and inclusion (DEI) initiatives, calling it an insult to women and minorities at CBS.

Several journalists, including Chung, have accused CBS and Paramount of yielding to pressure from Trump ahead of the merger through its settlement and cancellations. Chung expressed skepticism about the company’s claims that these actions were unrelated to the merger. "I have difficulty believing what they claim, which is that the ‘60 Minutes’ agreement had nothing to do with the merger, or a settlement had nothing to do with the merger, and also that the disappearance of Steve [sic] Colbert had nothing to do — it had only to do with financial issues. It all smells," she stated.

Backlash from Employees and Politicians

The merger has faced intense backlash, even from some of Paramount’s own employees. Rome Hartman, a veteran producer for "60 Minutes," called the company’s settlement with Trump a "cowardly capitulation by the corporate leaders of Paramount" and a "fundamental betrayal" of CBS News.

Politicians have also voiced concerns. Senators Bernie Sanders, Elizabeth Warren, and Ron Wyden sent a letter to Ellison demanding answers about the Trump settlement and the Colbert cancellation, suggesting that anti-bribery laws may have been broken to secure FCC approval for the merger.

The Future of Journalism

As the merger moves forward, many are questioning what it means for the future of journalism. With the potential loss of independence and the influence of corporate interests, the landscape of media may be changing in ways that could impact the quality and integrity of news reporting. For Chung and others, this merger represents more than just a business transaction—it signals a shift that could redefine the role of journalism in American society.