Executive at Paramount Global can breathe a sigh of relief with FCC approval of its $8 billion merger with Skydance Media

The Federal Communications Commission Thursday approved Skydance's $8 billion acquisition of Paramount, paving the way for "one of the most highly scrutinized media deals in the last decade," said The New York Times.

Paramount Global’s merger with Skydance Media was approved by the US Federal Communications Commission, which backed the deal after the Trump administration extracted concessions on the news and entertainment company’s political coverage and diversity practices.