Former CBS anchor Connie Chung sounded the alarm over the \$8 billion Paramount-Skydance merger, warning that corporate greed and political influence are destroying the independence of journalism, leaving behind a legacy she no longer recognizes—and possibly marking the end of honest reporting at CBS.

Former CBS Evening News anchor Connie Chung has delivered a searing warning that the legacy of honest journalism at CBS is nearing its end following the controversial \$8 billion merger between Paramount Global and Skydance Media.

Speaking during a Friday appearance on *CNN News Central*, Chung voiced deep concern that the once-independent network she helped build is now on the verge of losing its journalistic soul.

“I fear the end of CBS as I knew it,” Chung said, with unmistakable emotion.

“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. But now? I can see very clearly that the days I remembered are long gone.”

The merger, approved by the Federal Communications Commission (FCC) on Thursday and set to close officially on August 7, will form the new Paramount Skydance Corporation.

The deal, backed by Skydance Media CEO David Ellison and Paramount’s controlling shareholder Shari Redstone, has already sparked enormous backlash across the media industry and within CBS itself.

Critics, including high-profile journalists and even lawmakers, say the merger reeks of political maneuvering, corporate greed, and a fundamental abandonment of journalistic principles.

The outrage comes on the heels of several troubling moves by Paramount in the lead-up to the merger: a quiet legal settlement with former President Donald Trump over a controversial *60 Minutes* segment, and the abrupt cancellation of *The Late Show with Stephen Colbert*.

Both decisions were interpreted by some as attempts to appease Trump’s base and avoid any political turbulence that could jeopardize the merger’s FCC approval.

Chung didn’t hold back her suspicions. “I have difficulty believing what they claim — that the *60 Minutes* agreement had nothing to do with the merger, or that the settlement had no influence,” she said. “And the disappearance of Steve Colbert? Financial reasons only? It all smells.”

Her comments reflect a growing sentiment among veteran journalists who fear that CBS News is being gutted in favor of corporate interest.

Rome Hartman, a longtime producer at *60 Minutes*, earlier this month called the settlement with Trump a “cowardly capitulation by the corporate leaders of Paramount” and a “fundamental betrayal” of CBS’s mission to hold power to account.

But Chung’s concern extends beyond a single merger. To her, what’s happening now is a full-scale unraveling of the ideals once upheld by giants like Edward R. Murrow and Walter Cronkite — the very foundation on which CBS News built its credibility.

“Honest, unbiased, fact-based journalism is being tainted,” she said. “That kind of journalism has disappeared.”

Even more infuriating to Chung was the newly merged company’s public pledge to halt all new diversity, equity, and inclusion (DEI) initiatives.

She described the move as a slap in the face to the many women and minorities who had fought for their place within CBS. “This is personal,” she emphasized.

“It’s an insult to every journalist who fought to be seen and heard — especially those of us who were never handed our opportunities but earned them through grit and sacrifice.” Her criticism was echoed by members of Congress.

Senators Bernie Sanders, Elizabeth Warren, and Ron Wyden have jointly sent a letter to Skydance CEO David Ellison demanding transparency over the Trump settlement and the Colbert cancellation, suggesting that anti-bribery laws may have been violated to fast-track the merger through federal regulators.

Though the FCC has declined to comment on those allegations, the senators have called for a formal review.

Inside the CBS newsroom, uncertainty and frustration are reportedly growing. Staff members, some of whom had spent decades under the CBS banner, now fear a new corporate structure that prioritizes profits and political alliances over fearless reporting.

Many are questioning what the future of the network will look like under the leadership of Ellison, a Hollywood executive with little experience in hard news, and Redstone, whose recent business decisions have drawn intense criticism.

“What happens next?” one CBS employee asked anonymously. “Do we become another PR arm for whoever’s in power, or do we keep asking hard questions? Because if it’s the former, I don’t know why any of us are still here.”

Paramount, for its part, has denied any coordination between the merger and the Trump settlement or the Colbert cancellation, calling such accusations “inflammatory” and “unfounded.” Yet for many seasoned observers, the timing is just too suspicious.

The days of CBS standing as a bastion of independent journalism may now be numbered, and for voices like Connie Chung — who spent years breaking barriers as one of the first Asian American women to anchor a major news broadcast — the loss is more than professional. It’s deeply personal.

“You don’t build trust overnight,” she said. “It takes decades. But you can destroy it in a moment — and I think we just watched that moment happen.”

As August 7 approaches, one thing is clear: this merger is not just a business deal. It’s a turning point — one that may redefine not just CBS, but the future of American journalism itself.