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.

Following the August 7 closure of the Paramount–Skydance merger, CBS Studios and Paramount Television Studios (PTVS) have finalized how they’ll split up their projects, setting the stage for the two entities to operate side by side.