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Paramount Global and Skydance Media have officially completed their $8.4 billion merger, marking the beginning of a new era in entertainment.

The deal, first announced over a year ago, was delayed by legal and political hurdles but is now finalized.

According to Reuters, the new company is called "Paramount Skydance Corp" and began trading on Nasdaq under the symbol "PSKY" on Thursday.

The merger brings together Paramount's vast TV and movie empire—including CBS, MTV, and Paramount+—with Skydance's production strength and tech-forward vision.

David Ellison, the founder of Skydance, now serves as Chairman and CEO of the combined company.

"Today marks an exciting and pivotal moment," Ellison said in a statement. "We're ready to honor great storytelling while changing how we create and deliver content."

This deal wasn't easy to close. There were months of scrutiny from regulators, especially after former President Donald Trump sued Paramount over an edited 60 Minutes interview with his opponent, Kamala Harris.

The case ended with Paramount paying a $16 million settlement to Trump, which cleared the path for the deal to move forward.

Paramount-Skydance Merger Gets FCC Green Light Amid Controversy

Some critics say the settlement felt like a payoff. The backlash grew louder after CBS canceled "The Late Show with Stephen Colbert," just days after he criticized the settlement on air.

Paramount said it was a business decision, but many questioned the timing.

The merger received final approval from the Federal Communications Commission (FCC) just two weeks ago.

One condition: Skydance had to promise that CBS News would stay fair and unbiased. The company also agreed to hire an ombudsman for two years to handle fairness complaints.

FCC Chairman Brendan Carr praised the deal, saying it could restore balance to CBS and the larger news industry, AP News said.

He also supported Skydance's decision to end all of Paramount's diversity programs, which aligns with broader federal policy shifts under the Trump administration.

But not everyone agreed. FCC Commissioner Anna Gomez voted against the merger. She accused the FCC of giving in to political pressure and said the deal harmed both press freedom and diversity efforts.

Now that the merger is done, all eyes are on how Ellison and his team will lead the new Paramount.

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