A fter finally getting approval from the Federal Communications Commission, Skydance Media is just weeks away from completing its $8-billion merger with Paramount Global, leading to sweeping changes for some of the most iconic media brands.

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.

Skydance Media has made additional promises to the FCC in an effort to get approval for its $8 billion merger with Paramount Global.

Federal regulators on Thursday approved Paramount’s $8 billion merger with Skydance, clearing the way to close a deal that combined Hollywood glitz with political intrigue.

As Skydance looks to close its $8 billion merger with Paramount, the David Ellison-led studio has sent new letters to the FCC committing to the appointment of an ombudsman and the elimination of the media giant's diversity,

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

The Federal Communications Commission on Thursday gave the green light to the $8.4 billion merger between Paramount Global and Skydance Media – finally clearing the way for a deal that had been throttled by allegations of bias against CBS News.

Shares of Paramount Global surrendered early gains Friday, closing down 1.6% at $13.05. They initially got a bit of a pop from the FCC’s long awaited approval of the merger wtih Skydance Media. But investors remain cautious as the combined entity’s basic strategy on key fronts from cable to streaming

FCC Chairman Brendan Carr praised Skydance Media’s commitment to hire an ombudsman for CBS News after it completes its merger with Paramount Global. The commitment was outlined in a filing with the FCC this week.