The Paramount-Skydance merger, worth $8 billion, has been approved the FCC

The US Federal Communications Commission has approved the $8.4 billion merger between Paramount Global and Skydance Media, allowing the deal to move forward. The merger will put well-known entertainment properties, including CBS, Paramount Pictures, and Nickelodeon, under the ownership of tech scion David Ellison. The deal was met with controversy after Paramount paid $16 million to settle a lawsuit filed by former President Donald Trump against the company and CBS News. The settlement sparked accusations that Paramount had effectively paid for approval of the merger. FCC Chairman Brendan Carr, a Trump appointee, said the agency had received assurances from the incoming owners that they were committed to unbiased journalism. However, Democrat Anna Gomez, the FCC's dissenter, accused Paramount of "cowardly capitulation" to the Trump administration and said the FCC was imposing "never-before-seen controls over newsroom decisions." The merger has raised concerns about press freedom, with some senators accusing it of being corrupt. As part of the deal, Skydance has pledged to appoint an ombudsman to evaluate complaints of editorial bias or other concerns about CBS. The merger marks the end of an era for the Redstone family, who transformed their drive-in movie theater chain into a media empire. The deal is expected to close soon, with David Ellison set to become chair and CEO of the new Paramount.