South Park” delivered an episode this week that depicted a naked President Donald Trump in bed with the devil. Paramount just signed creators Trey Parker

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.

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.

The $8 billion deal's green light comes after CBS reached a $16 million settlement with Donald Trump over his lawsuit against "60 Minutes"

Shares of Paramount are set to open higher after the FCC approval its merger but amid ongoing uncertainty about its strategic plans under Skydance Media.

Federal regulators on Thursday approved Paramount’s $8 billion merger with Skydance, clearing the way to close a deal that combined Hollywood glitz with political intrigue.

The FCC hinging its approval of the merger on Paramount decommitting from DEI is the latest example of public-sector agendas affecting private-sector talent strategy.

Hours after announcing the approval of Skydance’s merger with Paramount, FCC Chairman Brendan Carr touted the company’s commitment to “addressing bias & restoring fact-based reporting” at CBS News, among other things.