A fter finally getting approval from the Federal Communications Commission, Skydance Media is just weeks away from completing its $8-billion merger with Paramount Global, leading to sweeping changes for some of the most iconic media brands.

With the FCC having cleared the Skydance Media-Paramount merger and the deal set to close in a matter of weeks, Paramount Global co-CEO Chris McCarthy will leave the media conglomerate, a company source confirmed to Variety.

The Federal Communications Commission Thursday approved Skydance's $8 billion acquisition of Paramount, paving the way for "one of the most highly scrutinized media deals in the last decade," said The New York Times.