Shares of Paramount ticked lower on Friday following news that the FCC has cleared the way for the closing of the media giant's $8 billion merger with Skydance Media. "Now that the long, drawn-out sale process is finally nearing its end,

The FCC approved the $8 billion merger between Paramount and Skydance Media. The deal follows months of tension, including Paramount paying $16 million to President Trump over a "60 Minutes" interview with former Vice President Harris.

Upon the deal’s closing, Skydance and its financial partners are set inject $1.5 billion in cash into Paramount. However, that’s intended to go toward reducing Paramount’s long-term debt ($14.16 billion as of Q1 of 2025) to help stabilize its balance sheet.