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.

Shares of Paramount Global surrendered early gains Friday, closing down 1.6% at $13.05. They initially got a bit of a pop from the FCC’s long awaited approval of the merger wtih Skydance Media. But investors remain cautious as the combined entity’s basic strategy on key fronts from cable to streaming

Editor’s note: this segment was taped before news broke of the FCC approval of the Paramount-Skydance merger .] New details from the ongoing Paramount-Skydance merger reveal a $20 million agreement to deliver public service announcements

In just under two weeks, Paramount Global will complete its merger with the smaller Skydance Media to form “ Paramount Skydance Corp.” — and bring a rollercoaster M&A ride to its conclusion. The FCC cleared the Skydance-Paramount deal Thursday, removing the last regulatory obstacle.

After the FCC approved Paramount Global's merger with Skydance, several pressing questions will confront the management of the combined company.

Paramount’s Skydance merger brings fresh leadership, cost synergies, and asset monetization to fuel a turnaround and reduce leverage. Learn why PARA stock is a buy.

Paramount co-CEO Chris McCarthy has opted to depart upon the completion of the Skydance acquisition as deal has landed FCC approval.