The Federal Communications Commission has cleared the way for Paramount Global to complete its merger with Skydance Media, announcing Thursday that it has approved the deal. The decision removes a final hurdle for the media and entertainment companies to close their transaction. Paramount is the parent company of CBS.

The Federal Communications Commission has approved the $8 billion merger of Paramount Global and Skydance Media, claiming “significant changes,” are coming to the CBS owner.

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.

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.

Skydance Media offered olive branches to the Federal Communications Commission in order to secure approval for its $8 billion acquisition of Paramount Global, and those overtures achieved the desired result.

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Liberal lawmakers asked David Ellison, chief executive of Skydance Media, which is set to merge with CBS owner Paramount, about alleged promises on conservative ad content.

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.