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.

Longtime Ellison lieutenant Dana Goldberg will run Paramount Pictures with former Sony executive, Josh Greenstein. Only one senior Paramount executive, George Cheeks, will remain after this week's Skydance takeover.

Paramount Global named David Ellison as chief executive of combined company following the completion of its merger with Skydance Media.

Gayle King's Status With CBS in The Future Unknown With Paramount Merger originally appeared on Daytime Confidential.

"CBS Mornings" has lost between 20% and 30% of their audience in the 25 to 54-year-old demographic compared to the same time last year, according to Neilsen.