Chris McCarthy, one of Paramount Global’s co-CEOs, plans to depart the company after the completion of their merger with Skydance.
McCarthy’s move follows the Federal Communications Commission approving the deal on Thursday, effectively clearing the final significant obstacle for the $8 billion merger.
McCarthy acted after the Federal Communications Commission gave their approval to the deal on Thursday, thus eliminating the main challenge in the $8 billion deal.
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Following the Federal Communications Commission’s approval of the deal on Thursday, McCarthy made his decision, which left the last major issue regarding the $8 billion transaction behind.
In April 2024, McCarthy was appointed co-CEO alongside George Cheeks and Brian Robbins at Paramount. This appointment came after the departure of Bob Bakish during the initial negotiations with Skydance. Additionally, McCarthy currently holds the position of president for Showtime/MTV Entertainment, where he manages the company’s streaming services such as Paramount+ and Pluto TV.
The head of CBS, Cheeks, appears likely to continue working for the company following the merger. Conversely, Robbins, in charge of Paramount Pictures and Nickelodeon, seems poised to leave.
On Thursday, the Federal Communications Commission (FCC), led by Brendan Carr, endorsed the transfer of Paramount’s broadcast licenses to Skydance. This approval should expedite the completion of the deal, thereby putting control of Paramount in the hands of David Ellison and his team at Skydance. In the new company, Ellison will serve as CEO, while Jeff Shell, former CEO of NBCUniversal, will take on the role of president.
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2025-07-25 01:24