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.

Analysts anticipate Paramount Global to report an earnings per share (EPS) of $0.37. The market awaits Paramount Global's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter. It's important for new investors to understand that guidance can be a significant driver of stock prices.

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.