Upon the deal’s closing, Skydance and its financial partners are set inject $1.5 billion in cash into Paramount. However, that’s intended to go toward reducing Paramount’s long-term debt ($14.16 billion as of Q1 of 2025) to help stabilize its balance sheet.

After the FCC approved Paramount Global's merger with Skydance, several pressing questions will confront the management of the combined company.

Editor’s note: this segment was taped before news broke of the FCC approval of the Paramount-Skydance merger .] New details from the ongoing Paramount-Skydance merger reveal a $20 million agreement to deliver public service announcements

In just under two weeks, Paramount Global will complete its merger with the smaller Skydance Media to form “ Paramount Skydance Corp.” — and bring a rollercoaster M&A ride to its conclusion. The FCC cleared the Skydance-Paramount deal Thursday, removing the last regulatory obstacle.

Paramount co-CEO Chris McCarthy has opted to depart upon the completion of the Skydance acquisition as deal has landed FCC approval.

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.

The corporate change comes as Skydance and Paramount wait for the FCC to greenlight their $28 billion merger. The companies’ concessions on DEI will likely convince the agency to approve the deal.