A fter finally getting approval from the Federal Communications Commission, Skydance Media is just weeks away from completing its $8-billion merger with Paramount Global, leading to sweeping changes for some of the most iconic media brands.

The transfer of control from Shari Redstone to a consortium led by David Ellison has been thirteen months in the making.

The FCC approved Skydance Media's $8 billion bid to acquire Paramount, the parent company of CBS. The green light from the FCC comes after Paramount agreed to a $16 million settlement with President Trump over his lawsuit accusing “60 Minutes” of deceptively editing an interview with then-presidential candidate Kamala Harris.