Paramount and Skydance announced Friday that, with the Trump administration’s approval, the highly anticipated merger between the entertainment giants is expected to take place next month.

FCC commissioner Brendan Carr says CBS will have a "bias monitor" who reports directly to the president of Paramount.

FCC Chairman Brendan Carr was asked to respond to criticisms of the Trump administration's intervention in the free press.

Paramount’s Skydance merger brings fresh leadership, cost synergies, and asset monetization to fuel a turnaround and reduce leverage. Learn why PARA stock is a buy.

When the FCC approved the Paramount-Skydance merger Thursday, one commissioner blasted the decision, calling it an act of “ cowardly capitulation ” on behalf of Paramount and warning that this could lead to a further “erosion of our First Amendment protections.”

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

On Thursday, the FCC voted 2-1 to approve the $8.4 billion merger between CBS parent Paramount Global (PARA.O) and Skydance Media after Skydance agreed to ensure CBS news and entertainment programming is free of bias, hire an ombudsman for at least two years to review complaints and end diversity programs.