Federal regulators on Thursday approved Paramount’s $8 billion merger with Skydance, clearing the way to close a deal that combined Hollywood glitz

The FCC announced it has approved the $8 billion merger between Paramount Global and Skydance Media, putting an end to the yearlong high-stakes saga.

Trump administration regulators have approved Skydance Media’s $8 billion bid to acquire CBS News parent company Paramount, paving the way for a tectonic shift in ownership of one of America’s three major networks.