Skydance Closes $8 Billion Paramount Deal After Colbert Acquired the Axe

The Skydance-Paramount merger is formally a carried out deal — and it’s all taking place as “The Late Present with Stephen Colbert” rolls by way of its remaining season.

Skydance Media, led by CEO David Ellison, closed its large $8 billion acquisition of Paramount World … cementing one of many largest shake-ups Hollywood’s seen in years.

The finished merger, introduced Thursday, had been months within the making, getting the ultimate thumbs-up from Paramount’s board and surviving a prolonged FCC assessment — and now, it is full steam forward. The corporate started public buying and selling on NASDAQ Thursday morning.

However the timing was controversial — simply weeks earlier, CBS introduced that “The Late Present with Stephen Colbert” would finish in Might 2026. That adopted a $16 million fee from Paramount to settle a lawsuit involving the TV information program “60 Minutes,” which President Donald Trump alleged had deceptively edited an interview with Kamala Harris in her favor throughout final yr’s presidential election marketing campaign.

Colbert referred to as {that a} “bribe” on his present. Days later, Paramount introduced his present wouldn’t be renewed, citing an absence of revenue. One in all late evening’s most recognizable voices, Colbert’s hosted “The Late Present” since 2015.