After 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.

The transfer of control from Shari Redstone to a consortium led by David Ellison has been thirteen months in the making.

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 Paramount-Skydance merger will see the sale of channels including the CBS broadcast television network, Paramount Pictures, and the Nickelodeon cable channel.

The US FCC has approved the merger of Paramount Global and Skydance Media. This deal transfers control of CBS, Paramount Pictures and other networks t