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 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.

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

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.

During his CNBC interview, Mr. Carr said that the Skydance deal, Mr. Trump’s lawsuit, and a news distortion complaint against CBS were unrelated. But, while the merger and the president’s lawsuit have been resolved, the news distortion investigation remains ongoing.

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.

CBS parent Paramount needs approval from the FCC for an $8.4-billion merger with Skydance Media. FCC Chair Brendan Carr said after a commission meeting the agency continues to review the deal and praised commitments to end diversity programs. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here.

Brendan Carr discussed media course correction following Colbert's show cancellation and criticizes partisan content, highlighting Skydance's CBS News plans.