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 (FCC) has approved Skydance’s $8 billion purchase of CBS-owner Paramount after the companies agreed to end diversity, equity, and inclusion (DEI) programs but feature a “diversity of viewpoints from across the political and ideological spectrum.”