Skydance Media, Paramount and FCC
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David Ellison, an actor-turned-producer and son of centibillionaire Larry Ellison, will helm Paramount after its merger with his Skydance media company is complete.
David Letterman unloaded on CBS and Skydance on Friday for cancelling “The Late Show,” which he launched 32 years ago, saying the network had mistreated his successor, Stephen Colbert. In an interview posted to his YouTube channel,
Shares of Paramount Global surrendered early gains Friday, closing down 1.6% at $13.05. They initially got a bit of a pop from the FCC’s long awaited approval of the merger wtih Skydance Media. But investors remain cautious as the combined entity’s basic strategy on key fronts from cable to streaming
David Ellison met this week with Brendan Carr and FCC staffers to discuss the Paramount Global merger which is still under agency review.
Upon closing of Paramount Global and Skydance Media's $8 billion merger, Oracle co-founder and chairman Larry Ellison will hold a minority voting interest of approximately 35.5% in the combined company.
The pending merger between Paramount Global and Skydance Media was formally approved by the Trump administration on Thursday, concluding months of regulatory uncertainty.