Approximately thirteen months following the agreement between Shari Redstone and David Ellison concerning the mega-deal for Paramount Global, it appears we have a tentative closing date: August 7th.
As a passionate gamer, I’m excited to share that the new company, known as “PSKY,” will soon be listed on Nasdaq! According to recent filings, this merger paves the way for the production company of Top Gun: Maverick, led by Larry Ellison, to combine forces with Paramount Pictures, Paramount+, CBS, Showtime, Nickelodeon, MTV, BET, and Comedy Central. It’s going to be an incredible journey ahead!
On Thursday, the Federal Communications Commission, under the leadership of Brendan Carr, gave the green light to a deal that marked its final approval after several months of uncertainty surrounding potential influence from President Trump. This was due to his $16 million settlement with the company during his legal dispute with CBS News’ 60 Minutes.
Last Thursday, the Federal Communications Commission, headed by Brendan Carr, confirmed the deal, which had been the last obstacle to its completion following a period of speculation about President Trump’s potential involvement in the discussions. This was prompted by his $16 million settlement with the company during his legal battle with CBS News’ 60 Minutes.
In July, Skydance Media and Paramount Global announced a merger proposal, with the Ellison family and Gerry Cardinale’s RedBird Capital Partners investing $2.4 billion to acquire National Amusements, owned by Redstone. This deal values the combined Skydance-Paramount at approximately $28 billion.
Over the past year, Paramount, its top management, and countless employees have experienced a wild, up-and-down journey. Just a month after the main terms of the deal were settled, Paramount’s high-ranking officials – an “Office of the CEO” consisting of George Cheeks, Chris McCarthy, and Brian Robbins – unveiled a strategy to reduce expenses by over $500 million and dispose of assets. The aim was to move the company’s focus away from its struggling linear TV business by doing so.
Last year, Paramount had approximately 18,600 employees worldwide. As part of cost-cutting measures, they decided to reduce their U.S.-based workforce by 15 percent, which was later increased by another 3.5 percent in June. This decision to downsize was described as a purely financial move by the company’s spokesperson, Cheeks.
Additionally, in an effort to save costs, CBS opted to discontinue its popular late-night show The Late Show With Stephen Colbert, a decision made on July 17, 20XX. This move has raised questions about potential political interference during the transition of ownership. However, Colbert will continue to host his show until May 2026.
The leadership of the company is anticipated to undergo significant transformation. Ellison will assume the position of CEO for what’s been nicknamed New Paramount (last year’s investor deck featured a logo resembling Skydance Media’s), while Jeff Shell, a former executive from NBCUniversal, will be appointed president. As for the current “Office of the CEO” trio, McCarthy is confirmed to leave Paramount upon deal completion, Robbins is expected to depart, and Cheeks might remain; however, their official status within the company remains uncertain at this time.
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2025-07-25 23:55