The Paramount Merger Was a Bad Deal for Old Shareholders. Buying the Stock Is a Good Bet for New Ones.

Ellison spoke with CBS journalists on his first day, acknowledging the stresses of the past year and touting the importance of “fact-based journalism,” a person in attendance said.

David Ellison's Skydance Media has closed its $8 billion merger with Paramount Global to create new company Paramount, a Skydance Corporation, the company announced Thursday. The finalization of the acquisition follows the FCC’s July 24 approval of the deal,