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.

Skydance has emphasized that the commitments are voluntary. Previously, Skydance and Paramount had argued against conditions imposed by the FCC to mandate benchmarks for viewpoint neutrality, saying that they would be “squarely foreclosed by the First Amendment and Supreme Court precedent.”

FCC Commissioner Anna Gomez issued a scathing statement of dissent following the FCC's approval of the Paramount and Skydance Media merger on Thursday

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

Paramount’s Skydance merger brings fresh leadership, cost synergies, and asset monetization to fuel a turnaround and reduce leverage. Learn why PARA stock is a buy.