The pending merger between Paramount Global and Skydance Media was formally approved by the Trump administration on Thursday, concluding months of regulatory uncertainty.

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.

Plus, Hulk Hogan, the pro wrestler who brought the sport to new heights of mainstream popularity, died at the age of 71.

CNBC's Julia Boorstin joins 'Money Movers' to discuss what the Paramount-Skydance merger means for media and the landscape of M&A.

Brendan Carr defended new Skydance-Paramount newsroom oversight, saying it's “time for a change” and aims to restore trust in media and unwind DEI policies.

Upon closing of Paramount Global and Skydance Media's $8 billion merger, Oracle co-founder and chairman Larry Ellison will hold a minority voting interest of approximately 35.5% in the combined company.

David Letterman unloaded on CBS and Skydance on Friday for cancelling “The Late Show,” which he launched 32 years ago, saying the network had mistreated his successor, Stephen Colbert. In an interview posted to his YouTube channel,