The Federal Communications Commission has cleared the way for Paramount Global to complete its merger with Skydance Media, announcing Thursday that it has approved the deal. The decision removes a final hurdle for the media and entertainment companies to close their transaction. Paramount is the parent company of CBS.

As part of its agreement to allow an $8 billion merger between media conglomerates Skydance and Paramount, the Federal Communications Commission (FCC) has assigned a government monitor to CBS (which is owned by Paramount) to rein in perceived "bias" against President Donald Trump and his administration.

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.

The FCC approved the transfer of CBS licenses to Skydance's ownership group, paving the way to the merger of Skydance and Paramount.

The Federal Communications Commission on Thursday approved the merger between Paramount Global and Skydance Media

Recently, comedian Stephen Colbert—whose popular CBS Late Show will be canceled next May despite being No. 1 in the late-night talk show ratings, in what many view as censorship due to his jokes about Trump—pointedly mocked the settlement the first chance he got, AP News reported.

Veteran media reporters say CBS News’ employees may resist their new bosses’ efforts to address allegations of a left-wing bias.

An $8 billion merger between Skydance Media and Paramount Global received regulatory approval Thursday from the Federal Communications Commission in a deal that has raised alarm about free speech and government intrusion into the media.

FCC Chairman Brendan Carr said he was encouraged by Skydance commitments to reform CBS once a merger is complete.

Brendan Carr says they have not made a ‘final’ decision on the news distortion matter. Federal Communication Commission Commissioner Brendan Carr testifies before the House Energy and Commerce Committee's Communications and Technology Subcommittee in the Rayburn House Office Building on Capitol Hill. Chip Somodevilla/Getty Images