With this week’s FCC approval, the merger between Paramount Global and Skydance Media is expected to be completed in the coming weeks at a value of $8 billion. The question for the new company is whether the psychic cost is much higher.

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.

When the FCC approved the Paramount-Skydance merger Thursday, one commissioner blasted the decision, calling it an act of “ cowardly capitulation ” on behalf of Paramount and warning that this could lead to a further “erosion of our First Amendment protections.”

With the FCC having cleared the Skydance Media-Paramount merger and the deal set to close in a matter of weeks, Paramount Global co-CEO Chris McCarthy will leave the media conglomerate, a company source confirmed to Variety.

Chairman Brendan Carr thinks his agency should strive to ensure that news coverage is fair and balanced—a role precluded by the First Amendment.

FCC Commissioner Anna Gomez issued a scathing statement of dissent following the FCC's approval of the Paramount and Skydance Media merger on Thursday

FCC Chairman Brendan Carr said Thursday he was “pleased” with commitments from Skydance Media to reform CBS, as the agency nears a decision on the $8 billion Paramount merger. Skydance submitted a letter this week pledging to hire an ombudsman to address complaints of media bias and to present “a diversity of viewpoints” on CBS