FCC approves merger between Paramount and Skydance

The deal was announced over a year ago.

Transcript

00:00Skydance's takeover of Paramount just got the green light.

00:03After months of regulatory uncertainty, the FCC has officially approved the $8 billion

00:09merger between Skydance Media and Paramount Global.

00:13The deal includes CBS, Paramount Pictures and Nickelodeon, marking a significant shift

00:17for the media company.

00:19FCC Chairman Brendan Carr endorsed the deal, saying Americans no longer trust legacy media

00:25and praised Skydance's commitment to making significant changes at CBS.

00:30Skydance also assured regulators it would focus on unbiased journalism and would not

00:34establish programs related to diversity, equity and inclusion.

00:38This marks the end of an era for the Redstone family and the start of a new chapter under

00:42David Ellison, son of tech billionaire Larry Ellison, who is set to take control once the

00:47deal closes.

00:49That'll do it for your daily briefing from New York City.

00:51I'm Caroline Woods with The Street.

00:55The…

01:05The Street.

01:07Good to the.

01:09I'm sorry.