The FCC's approval, which was necessary for the deal to move forward, caps a long-running corporate saga over the fate of Paramount, which owns Paramount+, the Paramount Pictures movie and television studios, the CBS television network and CBS News and Stations. Paramount also owns Nickelodeon, BET, MTV, Comedy Central and other media brands.

In a statement, FCC Chair Brendan Carr says the deal was allowed to go through only after the new owners agreed to make ideological changes to its news programming and end DEI policies

The merger clears the way for an $8.4 billion sale of some of the most prominent names in entertainment, including CBS, Paramount, and Nickelodeon.

On 'Daily Variety' podcast, Skydance Media's overtures accelerate FCC approval of Paramount Global deal; Why Steve Stoute is Music Mogul of the Year.

FCC Commissioner Anna Gomez issued a scathing statement of dissent following the FCC's approval of the Paramount and Skydance Media merger on Thursday

FCC Chairman Brendan Carr praised Skydance Media’s commitment to hire an ombudsman for CBS News after it completes its merger with Paramount Global. The commitment was outlined in a filing with the FCC this week.

With the FCC having cleared the Skydance Media-Paramount merger, Paramount Global co-CEO Chris McCarthy will leave the company, a company source confirmed to Variety.