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. Negotiations over

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.

Chairman Brendan Carr thinks his agency should strive to ensure that news coverage is fair and balanced—a role precluded by the First Amendment.

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.

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.”

FCC Commissioner Anna Gomez issued a scathing statement of dissent following the FCC's approval of the Paramount and Skydance Media merger on Thursday

The merger between Paramount (PARA) and Skydance got a lot more complicated after President Trump took office. Yahoo Finance Senior Columnist Rick Newman takes a closer look at the feud. To watch more expert insights and analysis on the latest market action,