Former TV anchor Connie Chung said on Friday that the recent Paramount Global-Skydance Media merger could mark the end of CBS News as she once knew it.

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.

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Paramount merger on Monday during his monologue, mocking the news with pee jokes as the company will trade under the ticker, "PSKY."

The US FCC has approved the merger of Paramount Global and Skydance Media. This deal transfers control of CBS, Paramount Pictures and other networks to Skydance. The approval follows a settlement in a lawsuit filed by Donald Trump.

The pending merger between Paramount Global and Skydance Media was formally approved by the Trump administration on Thursday, concluding months of regulatory uncertainty.

Show" host Jon Stewart went to bat for his friend Stephen Colbert after CBS announced it was canceling "The Late Show," a decision he viewed as kowtowing to President Trump.

Union Pacific is seeking to buy Norfolk Southern in a $85 billion deal that would create the first transcontinental railroad in the U.S.