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.

Executive at Paramount Global can breathe a sigh of relief with FCC approval of its $8 billion merger with Skydance Media. But it extracted a psychic price, too.

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.

In a decision that critics say reeks of corruption and threatens press freedoms, the Federal Communications Commission has approved Skydance’s $8 billion acquisition of CBS parent company Paramount Global, both of which made significant concessions to President Donald Trump in recent weeks.

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.

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.

By David Shepardson WASHINGTON (Reuters) -President Donald Trump and the Federal Communications Commission have vowed to force American broadcast media outlets to make significant changes. CBS may be just the beginning.

As a real-estate mogul, Trump long ago perfected the art of imposing his will through aggressive — and expensive — legal maneuvering. But no one else has ever really used it as president.