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.

The $8 billion deal's green light comes after CBS reached a $16 million settlement with Donald Trump over his lawsuit against "60 Minutes"

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

The U.S. Federal Communications Commission on Thursday approved the merger between Paramount Global and Skydance Media, clearing the way for an $8.4 billion sale of some of the most prominent names in entertainment,

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

Skydance separately promised to appoint a CBS News ombudsman to "promote transparency and increased accountability" at CBS News. Skydance CEO David Ellison also has met with center-right journalist Bari Weiss.

In meeting with FCC officials, Skydance's David Ellison promised that CBS's "editorial decision-making reflects the varied ideological perspectives of American viewers."