Overview

• The $8.4 billion acquisition closes on August 7, forming Paramount Skydance with David Ellison as chairman and CEO.
• Jeff Shell will serve as president overseeing television operations, while Brian Robbins and Chris McCarthy exit and George Cheeks remains as chair of TV media.
• A 10-member board slate features three independent directors led by Sherry Lansing and Barbara Byrne alongside stakeholders such as Safra Catz, Gerry Cardinale and John L. Thornton.
• Skydance agreed to abandon all diversity, equity and inclusion programs at Paramount and install a CBS News ombudsman for at least two years under FCC approval conditions.
• Matt Thunell will helm the revived Paramount Television Studios under co-chair Dana Goldberg, merging Skydance TV and Showtime/MTV Entertainment Studios into a streaming-focused unit.