U.S. federal regulators on Thursday approved Paramount's $8-billion US merger with Skydance, clearing the way to close a deal that combined Hollywood glitz with political intrigue.

The Federal Communications Commission has approved Skydance’s $8 billion acquisition of CBS parent company Paramount Global, both of which made concessions to President Donald Trump.

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.