The FCC approved the transfer of CBS licenses to Skydance's ownership group, paving the way to the merger of Skydance and Paramount.

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 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.

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.

Skydance, the entertainment company set to take over Paramount in an $8 billion merger, told federal officials this week that it will hire an ombudsman who will review “complaints of bias” at CBS News

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

Upon the deal’s closing, Skydance and its financial partners are set inject $1.5 billion in cash into Paramount. However, that’s intended to go toward reducing Paramount’s long-term debt ($14.16 billion as of Q1 of 2025) to help stabilize its balance sheet.