FCC Approves Paramount and Skydance Merger Amid Regulatory and Political Developments

Paramount Global Co-CEO Chris McCarthy is set to leave the company following the FCC's approval of the Skydance Media merger, with the deal expected to close soon. McCarthy, who oversaw Showtime, MTV Entertainment, and Paramount Media Networks, will depart as part of the leadership restructuring post-merger, which will see David Ellison of Skydance become CEO of the new entity, Paramount Skydance Corp. The future leadership of Paramount's streaming division remains uncertain.