Now that David Ellison's Skydance has secured the keys to Paramount Global, what toys await him inside the company's intellectual property chest? After a nail-biting federal approval process that inspired backlash,

David Ellison, an actor-turned-producer and son of centibillionaire Larry Ellison, will helm Paramount after its merger with his Skydance media company is complete.

Former late-night host David Letterman slammed Paramount and CBS on Friday for their treatment of Stephen Colbert, suggesting the cancellation may be linked to avoiding trouble with Trump.

The Late Show legend David Letterman has slammed CBS’s “gutless” axing of his successor, Stephen Colbert, and the entire franchise.

David Letterman unloaded on CBS and Skydance on Friday for cancelling “The Late Show,” which he launched 32 years ago, saying the network had mistreated his successor, Stephen Colbert. In an interview posted to his YouTube channel,

Elizabeth Warren, Bernie Sanders and Ron Wyden also question whether Skydance was involved in discussions to cancel The Late Show with Stephen Colbert

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.

In meeting with FCC officials, Skydance's David Ellison promised that CBS's "editorial decision-making reflects the varied ideological perspectives of American viewers."

Shares of Paramount are set to open higher Friday after long-awaited FCC approval for its merger erased a big question mark hovering over the company's future, but amid ongoing uncertainty about its strategic plans under Skydance Media.