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 FCC approved the transfer of CBS licenses to Skydance's ownership group, paving the way to the merger of Skydance and Paramount.

An $8 billion merger between Skydance Media and Paramount Global received regulatory approval Thursday from the Federal Communications Commission in a deal that has raised alarm about free speech and government intrusion into the media.

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

As Skydance looks to close its $8 billion merger for Paramount, the David Ellison-led studio has sent new letters to the FCC, committing to the appointment of an ombudsman at CBS News and to eliminate the media giant’s diversity, equity and inclusion initiatives.

Skydance, the entertainment company set to take over Paramount in an $8 billion merger, told federal officials this week that it will hire an ombudsman who will review “complaints of bias” at CBS News

Skydance Media said it’s willing to install an ombudsman to review any complaints of bias at CBS as a condition of its pending merger with Paramount Global.

Skydance Media, the entertainment company poised to acquire Paramount in an $8 billion deal, pledged on Tuesday that Diversity, Equity