Ellison's father Larry Ellison, 80, is a titan of Silicon Valley who co-founded Oracle in 1977. David Ellison grew up in Woodside, California, in the Bay Area, where he was raised by his mother.
The $8.4 billion merger between Paramount Global and Skydance Media won approval from U.S. regulators on Thursday, clearing the way for a sale that evolved into a clash over press freedom in the era of President Donald Trump.
CNBC's Julia Boorstin joins 'Money Movers' to discuss what the Paramount-Skydance merger means for media and the landscape of M&A.
The Federal Communications Commission has approved the $8 billion merger of Paramount Global (PARA) and Skydance Media, claiming “significant changes,” are coming to the CBS owner.
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. The stock is up about 1% ahead of the open at $13.40.
Shares in the entertainment company tick up after the Federal Communications Commission approves a deal with Skydance.
US regulators have approved the $8.4 billion merger between Paramount Global (NASDAQ:PARA) and Skydance Media, bringing CBS, Paramount Pictures, and Nickelodeon under the control of David Ellison. The deal, which was cleared by the Federal Communications Commission in a divided vote, follows Paramount's $16 million settlement of a lawsuit filed by Donald Trump against the company and CBS News.
In a statement, FCC Chair Brendan Carr says the deal was allowed to go through only after the new owners agreed to make ideological changes to its news programming and end DEI policies
The Federal Communications Commission on Thursday approved the merger between Paramount Global and Skydance Media
The signoff on the deal, which could close next month, follows Paramount's settlement of a Trump lawsuit.
The signoff on the deal, which could close next month, follows Paramount's settlement of a Trump lawsuit.
The FCC on Thursday finally signed off on the marriage of Skydance Media and Paramount Global. The $8 billion deal has faced myriad challenges on its way to the finish line but will be made official in the coming days by the companies. No shareholder vote or other approvals are required.