The FCC has granted approvals necessary to clear the way for the $8 billion merger of Paramount Global and David Ellison’s Skydance Media. The agency OK’d the transfer of licenses for 28 CBS-owned local TV stations to the Skydance-led ownership group that is taking over Paramount Global — removing the merger’s final regulatory hurdle.

The FCC, led by Brendan Carr, said that it approved the transfer of the company's broadcast licenses to Skydance and David Ellison.