Paramount had said it expected to close the $8.4 billion merger in the first half of 2025. But the first half of the year came and went, and the merger remained under review by the FCC and its chair Brendan Carr, who had been appointed to the role earlier this year by President Trump.

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

Following the Federal Communications Commission approval Thursday, one of the triumvirate of current Paramount leaders, Chris McCarthy, said that he would be leaving the company.

"The media industry across this country needs a course correction."