Paramount Global’s merger with Skydance Media was approved by the US Federal Communications Commission, which backed the deal after the Trump administration extracted concessions on the news and entertainment company’s political coverage and diversity practices.

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.

Paramount had said it expected to close the $8.4 billion merger in the first half of 2025. But the first half of the year came and went, and the merger remained under review by the FCC and its chair Brendan Carr, who had been appointed to the role earlier this year by President Trump.

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.

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

The FCC finally signed off on the merger of Skydance Media and Paramount Global, a transaction that will reshape the media landscape.

Paramount Global’s DEI initiatives, particularly at subsidiary CBS News, have drawn scrutiny from the Trump administration.

MoffettNathanson says it will be awaiting clarity on the future of Paramount+ and the linear network portfolio

As July began, Paramount paid $16 million to settle a Trump civil suit. As July ended, Trump's FCC appointees approved Paramount’s $8 billion merger deal.