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.

Federal regulators on Thursday approved Paramount’s $8 billion merger with Skydance, clearing the way to close a deal that combined Hollywood glitz with political intrigue.

Brendan Carr discussed media course correction following Colbert's show cancellation and criticizes partisan content, highlighting Skydance's CBS News plans.

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Hours after announcing the approval of Skydance’s merger with Paramount, FCC chairman Brendan Carr touted the company’s commitment to “addressing bias & restoring fact-based reporting” at CBS News, among other things.

Recently, comedian Stephen Colbert—whose popular CBS Late Show will be cancelled next May despite being No. 1, in what many view as censorship due to his jokes about Trump—pointedly mocked the settlement the first chance he got, AP News reported.

She said it was "a deal that was linked to a payout to settle a baseless lawsuit and other troubling concessions"

FCC Chairman Brendan Carr said he was encouraged by Skydance commitments to reform CBS once a merger is complete.