We break down complex business news to help you understand how money moves in Chicago and how it affects you.

Skydance and Paramount officially closed their $8 billion merger on Thursday — kicking off the reign of a new entertainment giant after a contentious, over year-long endeavor to get the transaction over the finish line.

The new company — which will trade under the “PSKY” ticker on Wall Street — brings Paramount’s legacy Hollywood footprint, major TV networks like CBS and MTV, streaming services and more under the roof of a new power player: billionaire Skydance founder David Ellison.

“Today marks an exciting and pivotal moment as we prepare to bring Paramount’s legacy as a Hollywood institution into the future of entertainment,” Ellison, who is now Chairman and CEO of Paramount,

See Full Page