Now that David Ellison's Skydance has secured the keys to Paramount Global, what toys await him inside the company's intellectual property chest? After a nail-biting federal approval process that inspired backlash,

In the aftermath of the FCC's approval of the Skydance-Paramount merger, there has been consternation, angst and even anger over how it went down.

David Letterman blasted his former network home CBS and the 'goons' at Skydance as he speculated that Stephen Colbert's 'Late Show' was canceled for political reasons: 'Bottom feeders.'

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 Oracle chairman will not have any "veto rights, or any special or outsized voting rights," per an amendment filed with the FCC

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.

Skydance needs FCC approval in order to take over Paramount. It’s now promising to root out “bias” at CBS News in order to get it.