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.

In a decision that critics say reeks of corruption and threatens press freedoms, the Federal Communications Commission has approved Skydance’s $8 billion acquisition of CBS parent company Paramount Global, both of which made significant concessions to President Donald Trump in recent weeks.