After an intense, scandal-plagued acquisition, here's what David Ellison gets in Skydance's acquisition of Paramount Global.

The Larry Ellison family and RedBird Capital Partners are expected to take control of Paramount in the coming days. David Ellison, 42, will serve as chairman and chief executive.

FCC Chairman Brendan Carr released a statement announcing his approval of the $8 billion merger between Paramount Global and Skydance Media after a yearlong saga.

Upon the deal’s closing, Skydance and its financial partners are set inject $1.5 billion in cash into Paramount. However, that’s intended to go toward reducing Paramount’s long-term debt ($14.16 billion as of Q1 of 2025) to help stabilize its balance sheet.

After the FCC approved Paramount Global's merger with Skydance, several pressing questions will confront the management of the combined company.

Skydance is providing even more insight into its commitment to ending DEI policies and eliminating CBS News’s alleged left-wing bias.

The Federal Communications Commission approved the sale of Paramount Global after the buyer made pledges to showcase a diversity of viewpoints and root out alleged bias in CBS' news coverage.

Paramount co-CEO Chris McCarthy has opted to depart upon the completion of the Skydance acquisition as deal has landed FCC approval.