Paramount co-CEOs George Cheeks, Brian Robbins and Chris McCarthy expressed their thanks to the media giant's staff following news that its pending $8 billion merger with Skydance Media is expected to close Aug.

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.

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.

McCarthy became co-CEO of Paramount, alongside George Cheeks and Brian Robbins, in April 2024. The trio took on the role after the ouster of Bob Bakish as the company was in its first round of negotiations with Skydance. McCarthy is also president of Showtime/MTV Entertainment and oversees the company’s streaming platforms Paramount+ and Pluto TV.

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

After his advances were rebuffed, Smith allegedly retaliated by orchestrating a significant demotion of the account handled by the accuser’s ad agency despite the company being one of the most competitive vendors due to its pricing, the lawsuit claims.

Benson Lee will direct the film, which will is expected to be the first major American studio film shot entirely in South Korea.

The cable business has cratered. The news division is in turmoil. A.I. is coming for movies. And those are just the obvious challenges.