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.

What we can say is that Gayle King’s latest contract is set to expire in May 2026 - the same month in which The Late Show with Stephen Colbert will finish its run. So we'll just have to wait and see what develops in this time of reorganization and shaping of corporate vision.

Stephen Colbert was unafraid to call out CBS and Paramount after The Late Show was abruptly axed, but according to an insider, his pals are concerned he’s going too far with his continued criticism of the networks.

After CBS' shocking cancellation of Stephen Colbert's "Late Show," the comedian is set to play a late-night host elsewhere on the network.