The FCC's approval, which was necessary for the deal to move forward, caps a long-running corporate saga over the fate of Paramount, which owns Paramount+, the Paramount Pictures movie and television studios, the CBS television network and CBS News and Stations. Paramount also owns Nickelodeon, BET, MTV, Comedy Central and other media brands.

Skydance Media has made additional promises to the FCC in an effort to get approval for its $8 billion merger with Paramount Global.

Jon Stewart lambasted CBS’ decision to cancel “The Late Show With Stephen Colbert” on Monday’s episode of “The Daily Show,” ripping their shared parent company, Paramount Global, for what he called a

Show' host's comments came shortly before it was announced that CBS has canceled 'The Late Show With Stephen Colbert.'

CBS News has been dogged for decades by allegations of liberal bias, with the controversies over its coverage decisions intensifying over the last year.

Skydance's CEO told the FCC this week that CBS would reflect "varied ideological perspectives" of U.S. viewers, while touting "American storytelling."

In meeting with FCC officials, Skydance's David Ellison promised that CBS's "editorial decision-making reflects the varied ideological perspectives of American viewers."

Liberal lawmakers asked David Ellison, chief executive of Skydance Media, which is set to merge with CBS owner Paramount, about alleged promises on conservative ad content.