Skydance Media finally took the reins of Paramount Global on Thursday — capping a long-winding saga after the $8 billion merger risked being derailed by political scrutiny and shareholder concerns.

The new publicly traded company, called Skydance Paramount Corp, combines the media giant’s struggling legacy brands like CBS and MTV, its Paramount+ streaming service, and prized film and TV library, with Skydance’s production and technological capabilities.

Skydance boss David Ellison — who will take over as CEO and chairman of PSky — laid out a host of initiatives as he touted “Day One of a new Paramount.” 6

“We embark on the exciting next chapter of this legendary company,” said the budding media mogul, who is the son of billionaire Oracle co-founder Larry Ellison.

“Moving forward,

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