U.S. administration approves Skydance merger with Paramount

The U.S. Federal Communications Commission (FCC) announced Thursday that it would allow an 8 billion-U.S.- dollar merger between Paramount and Skydance Media.

The FCC said in a statement that it approved Skydance's acquisition of Paramount Global and its subsidiaries, including the ultimate parent company of the CBS network of owned and operated broadcast television stations, by granting a series of applications that transfer FCC licenses and authorizations. Skydance has made written commitments to ensuring that the new company's programming embodies a diversity of viewpoints from across the political and ideological spectrum, said FCC Chairman in the statement.