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.

"Morning Joe" co-host Joe Scarborough warned Republicans they will suffer "blowback" for the $8 billion Paramount-Skydance merger

FCC chairman Brendan Carr praised Skydance Media's commitment to hire an ombudsman for CBS News after it completes its merger with Paramount Global.

Skydance Media has made additional promises to the FCC in an effort to get approval for its $8 billion merger with Paramount Global.

The Federal Communications Commission on Thursday gave the green light to the $8.4 billion merger between Paramount Global and Skydance Media – finally clearing the way for a deal that had been throttled by allegations of bias against CBS News.

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Upon the deal’s closing, Skydance and its financial partners are set inject $1.5 billion in cash into Paramount. However, that’s intended to go toward reducing Paramount’s long-term debt ($14.16 billion as of Q1 of 2025) to help stabilize its balance sheet.

The US FCC has approved the merger of Paramount Global and Skydance Media. This deal transfers control of CBS, Paramount Pictures and other networks to Skydance. The approval follows a settlement in a lawsuit filed by Donald Trump.