FCC Approves Billion-Dollar Merger Between Paramount and Skydance After Trump Settlement

The FCC has approved the $8 billion merger between Paramount Global and Skydance Media after a year-long settlement process. The deal was finalized following a Trump administration agreement and comes as CBS late-night host Stephen Colbert will be canceled in February of next year, amidst growing concerns over media consolidation. The merger approval puts an end to the contentious saga that began in 2021. The deal is expected to create one of the largest media conglomerates globally.