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.

She said it was "a deal that was linked to a payout to settle a baseless lawsuit and other troubling concessions"

The merger clears the way for an $8.4 billion sale of some of the most prominent names in entertainment, including CBS, Paramount, and Nickelodeon.

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

FCC Chairman Brendan Carr released a statement announcing his approval of the $8 billion merger between Paramount Global and Skydance Media after a yearlong saga.

The pending merger between Paramount Global and Skydance Media was formally approved by the Trump administration on Thursday, concluding months of regulatory uncertainty.

The green light follows Paramount's $16 million settlement of a suit filed by Trump, related to a 60 Minutes interview with Kamala Harris.

Trump administration regulators have approved Skydance Media’s $8 billion bid to acquire Paramount, the parent company of CBS and other outlets including Comedy Central and MTV. The approval comes amid concerns about Paramount settling a lawsuit with Trump just days before CBS announced the cancellation of "The Late Show with Stephen Colbert" which has been critical of the president.

FCC Commissioner Anna Gomez issued a scathing statement of dissent following the FCC's approval of the Paramount and Skydance Media merger on Thursday