The FCC's approval, which was necessary for the deal to move forward, caps a long-running corporate saga over the fate of Paramount, which owns Paramount+, the Paramount Pictures movie and television studios, the CBS television network and CBS News and Stations. Paramount also owns Nickelodeon, BET, MTV, Comedy Central and other media brands.

MoffettNathanson says it will be awaiting clarity on the future of Paramount+ and the linear network portfolio

In a statement, FCC Chair Brendan Carr says the deal was allowed to go through only after the new owners agreed to make ideological changes to its news programming and end DEI policies