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.

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.

Senior Senator Ron Wyden (D-Ore.) - soon to be the longest-serving senator in Oregon history - is back in the state for the summer recess and for a series of town halls this weekend.

The signoff on the deal, which could close next month, follows Paramount’s settlement of a Trump lawsuit.

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

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

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.

FCC Chairman Brendan Carr was asked to respond to criticisms of the Trump administration's intervention in the free press.