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.

Paramount’s cable business has cratered. The news division is in turmoil. A.I. is coming for movies. And those are just the obvious challenges facing David Ellison as he takes control.

The Oracle chairman will not have any "veto rights, or any special or outsized voting rights," per an amendment filed with the FCC

David Ellison met this week with Brendan Carr and FCC staffers to discuss the Paramount Global merger which is still under agency review.

More than a year after Skydance Media and its partners clinched a deal with Shari Redstone and Paramount Global to merge the companies, the FCC has yet to act on an application to approve the transfer of CBS licenses to the new ownership.

Elizabeth Warren, Bernie Sanders and Ron Wyden also question whether Skydance was involved in discussions to cancel The Late Show with Stephen Colbert

Paramount’s Skydance merger brings fresh leadership, cost synergies, and asset monetization to fuel a turnaround and reduce leverage. Learn why PARA stock is a buy.

With this week’s FCC approval, the merger between Paramount Global and Skydance Media is expected to be completed in the coming weeks at a value of $8 billion. The question for the new company is whether the psychic cost is much higher.