The FCC has finally signed off on the marriage of Skydance Media and Paramount Global. Here’s what’s important to know:

1) David Ellisonwill become CEO of the combined company. Also Jeff Shell, head of RedBird Capital Sports and Media and former CEO of NBCU will be president.

2) George Cheeks, president and CEO of CBS, is expected to remain with the company, while Skydance Chief Creative Officer Dana Goldberg will run the film studio. Cindy Holland, the former Netflix TV chief will focus on Paramount+. Chris McCarthy, co-CEO of Paramount Global and president of Showtime/MTV Entertainment, is expected to depart the company once its acquisition by Skydance is completed early next month.

#) The fate of the company’s cable channels is uncertain, but the new entity has pledged to support FCC efforts to eliminate discriminatory DEI practices and promote diverse political and ideological viewpoints—timely, given recent backlash over The Late Show's cancellation and South Park taking shots at Paramount & Trump.

Patrick Soon-Shiong, the owner of the Los Angeles Times, said that he plans to take the publication public. In an appearance on The Daily Show on Monday, Soon-Shiong told host Jon Stewart that “we are literally going to take the L.A. Times public and allow it to be democratized and allow the public to have ownership of this paper.” The Times unveiled additional details in a press release Tuesday. It said a new entity will be created called the L.A. Times Next Network, including the Times, a curated creator platform called LAT Next, Nant Games, NantStudios Virtual Production and L.A. Times Studios.

Sony made two major moves this week:

1) It bought a 2.5% stake in Bandai Namco for 68 billion yen ($464M) as part of a strategic alliance. Bandai Namco owns franchises like Tekken, Pac-Man, Soulcalibur, Elden Ring, and Dark Rings.

2) Sony Pictures Television hired former BBC Studios exec Matt Ford for a new digital role focused on working with UK content creators, building creator partnerships, developing digital originals, and expanding content across streaming, social, and audio platforms.

LEADERSHIP NEWS

NPR editor in chief and acting chief content officer Edith Chapin will step down this fall. She informed CEO Katherine Maher of her decision two weeks before Congress cut federal funding to NPR and PBS.

Penkse Media Corporation has said Chief Strategy Officer Craig Perreault has been promoted to the role of President of Media & Corporate Development, with the current president George Grobar to transition into a role advising the CEO.

Lionsgate Motion Picture Group marketing heads JP Richards and Keri Moore are leaving the company effective immediately. Their roles won’t be filled right away; EVPs Amanda Kozlowski, Jack Teed, and Nasim Cambron will lead global campaigns in the interim, with MPG chair Adam Fogelson taking a more active oversight role.

Four industry veterans from Netflix, Disney, Warner Bros., and NBCUniversal are launching AiPhelion, a consulting firm focused on IP in the AI era. Led by CEO Victoria Furniss, the team also includes co-founders Michael Jury, Bret Boivin, and John Byrne. Based in London and L.A., they bring expertise across legal, media, tech, and regulatory sectors.

EXTRA NEWS

Peter Rice, the onetime chairman of Walt Disney Television and head of 21st Century Fox, has been tapped as the Head of Ceremonies and Content for the LA28 Olympic and Paralympic Games, organizers said Wednesday.

South Park Digital Studios, the joint venture behind the animated hit co-owned by Paramount and Park County, has entered into an exclusive five-year license deal with Paramount+, reportedly worth $1.5 billion. The pacts cover 50 new episodes over five seasons and all 26 previous seasons of South Park, which will continue on Comedy Central and be available on Paramount+

Next gen studio Mirage Digital is partnering with globe eSports organization Team Liquid to launch the first 24/7 eSports FAST Channel. For the first time, fans will have continuous access to championship eSports coverage outside traditional platforms like Twitch, including in-depth tournament broadcasts, exclusive behind-the-scenes content, daily highlights, and real-time strategy insights.

A lawsuit over the sale of A3 Artists Agency to Gersh has been resolved. Former agency partners Robert Atterman and Brian Cho, who accused majority owner Adam Bold of duping them into signing away their rights to stop the acquisition, moved on Wednesday to dismiss the case after a settlement was reached between the two sides in A3’s bankruptcy proceedings.

At San Diego Comic-Con, the Rick and Morty team announced an animated spinoff, President Curtis, starring Keith David’s fan-favorite character. The show is co-created by executive producers Dan Harmon and James Siciliano.

AMC announced Friday at Comic-Con that it has renewed The Walking Dead: Daryl Dixon for a fourth and final season. Production is slated to begin in the coming days in Madrid and other locations in Spain. Series leads Norman Reedus and Melissa McBride will continue their roles in the eight-episode final run.