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.

The Federal Communications Commission approved Skydance Entertainment’s merger with Paramount Global on Thursday, clearing the way for the more than $8 billion deal to close and ending a multiyear saga with enough plot twists for a soap opera.

The Federal Communications Commission on Thursday approved the merger between Paramount Global and Skydance Media

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

Skydance committed to removing DEI programs and establishing a bias complaint system at CBS News as it seeks FCC approval for Paramount merger.

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.

In just under two weeks, Paramount Global will complete its merger with the smaller Skydance Media to form “ Paramount Skydance Corp.” — and bring a rollercoaster M&A ride to its conclusion. The FCC cleared the Skydance-Paramount deal Thursday, removing the last regulatory obstacle.

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