The signoff on the deal, which could close next month, follows Paramount’s settlement of a Trump lawsuit.

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

With the FCC having cleared the Skydance Media-Paramount merger and the deal set to close in a matter of weeks, Paramount Global co-CEO Chris McCarthy will leave the media conglomerate, a company source confirmed to Variety.

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.

"New York Times" White House correspondent Peter Baker on MSNBC's "Morning Joe" expressed his displeasure with the Trump administration for approving the Skydance-Paramount merger. JOE SCARBOROUGH, HOST: It took a while.

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.