Skydance Media Responds to Senators’ Inquiry Regarding Paramount Deal and “The Late Show With Stephen Colbert”
Skydance Media recently addressed concerns raised by three U.S. senators regarding its acquisition of Paramount Global and its involvement in the cancellation of “The Late Show With Stephen Colbert.” In a letter dated July 21, Sens. Elizabeth Warren, Bernie Sanders, and Ron Wyden posed several questions to Skydance CEO David Ellison, seeking clarity on potential bribery issues and the decision to cancel the popular late-night talk show.
In a response obtained by Variety on July 31, Stephanie Kyoko McKinnon, Skydance’s general counsel and co-president of business operations, assured the senators that the company had always complied with anti-bribery laws throughout its history and during the Paramount acquisition review process. McKinnon clarified that Skydance was not involved in CBS’s independent decision to cancel “The Late Show With Stephen Colbert,” attributing the move to Paramount’s financial considerations.
The senators also raised concerns about President Trump’s alleged side deal with Skydance, which purportedly involved a commitment to provide $20 million in advertising or similar programming. McKinnon did not directly address the existence of such a deal but emphasized that Skydance was not party to Paramount’s settlement with Trump over the “60 Minutes” lawsuit, which did not include any promises of free advertising.
Regarding the transaction agreement, McKinnon explained that Paramount had the authority to settle litigation unrelated to the acquisition without Skydance’s consent, up to a limit of $50 million. She confirmed that Skydance had agreed to a specific term requested by Paramount regarding the publication of transcripts of interviews with presidential candidates.
In anticipation of the Skydance-Paramount deal closing on August 7, McKinnon informed FCC Chairman Brendan Carr of Skydance’s commitment to appointing an ombudsman at CBS to address concerns of bias and ensuring viewpoint diversity. She also clarified that Paramount had eliminated diversity, equity, and inclusion initiatives, and Skydance had no such initiatives in place or planned for the future.
McKinnon reiterated Skydance’s dedication to promoting non-discrimination, equal employment opportunity, and unbiased journalism in her letter to the senators. She emphasized the importance of editorial independence and the company’s belief in presenting a wide range of viewpoints in its content without government interference.
In conclusion, McKinnon expressed Skydance’s commitment to maintaining productive relationships with government officials at all levels and welcomed the opportunity to collaborate with the senators and their colleagues in the future. As the deal between Skydance and Paramount moves forward, the company seeks to uphold its principles of ethical conduct and editorial integrity in all its endeavors.
