Short answers, pulled from the story.
David Ellison officially formed Paramount Skydance Corporation on the 7th of August 2025. This new entity emerged from a three-way merger between Paramount Global, National Amusements, and Skydance Media.
The settlement led to the cancellation of The Late Show with Stephen Colbert after he called the payment a bribe. Following the merger, David Ellison appointed Bari Weiss as editor-in-chief of CBS News.
The company announced layoffs affecting approximately 1,000 employees on the 5th of August 2025. These cuts aimed to slash operating costs by $2 billion.
Warner Bros. Discovery shareholders rejected the Paramount proposal on the 17th of December 2025 because they cited insufficient value compared to the Netflix offer. By the 23rd of January 2026, Netflix Co-CEO Greg Peters dismissed the Paramount bid as relying heavily on debt and Larry Ellison's personal guarantee.
Paramount Pictures inked a deal with Microsoft-owned Activision Blizzard to develop a live-action Call of Duty film. This project represented a dream come true for CEO David Ellison who identified as a long-time fan of the series.