Shares of Paramount are set to open higher after the FCC approval its merger but amid ongoing uncertainty about its strategic plans under Skydance Media.

The pending merger between Paramount Global and Skydance Media was formally approved by the Trump administration on Thursday, concluding months of regulatory uncertainty.

Skydance Media offered olive branches to the Federal Communications Commission in order to secure approval for its $8 billion acquisition of Paramount Global, and those overtures achieved the desired result.

CNBC's Julia Boorstin joins 'Money Movers' to discuss what the Paramount-Skydance merger means for media and the landscape of M&A.

Plus, Hulk Hogan, the pro wrestler who brought the sport to new heights of mainstream popularity, died at the age of 71.

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

Hours after announcing the approval of Skydance’s merger with Paramount, FCC Chairman Brendan Carr touted the company’s commitment to “addressing bias & restoring fact-based reporting” at CBS News, among other things.

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