With this week’s FCC approval, the merger between Paramount Global and Skydance Media is expected to be completed in the coming weeks at a value of $8 billion. The question for the new company is whether the psychic cost is much higher.

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.

The Federal Communications Commission approved the sale of Paramount Global after the buyer made pledges to showcase a diversity of viewpoints and root out alleged bias in CBS' news coverage.

WASHINGTON (Reuters) -President Donald Trump and the Federal Communications Commission have vowed to force American broadcast media outlets to make significant changes. "President Trump is fundamentally reshaping the media landscape,

Actress Sandra Oh cursed CBS and Paramount networks over Stephen Colbert's show cancellation, citing concerns about culture and free speech during her guest appearance.

With the FCC having cleared the Skydance Media-Paramount merger and the deal set to close in a matter of weeks, Paramount Global co-CEO Chris McCarthy will leave the media conglomerate, a company source confirmed to Variety.

FCC Chairman Brendan Carr was asked to respond to criticisms of the Trump administration's intervention in the free press.