Upon the deal’s closing, Skydance and its financial partners are set inject $1.5 billion in cash into Paramount. However, that’s intended to go toward reducing Paramount’s long-term debt ($14.16 billion as of Q1 of 2025) to help stabilize its balance sheet.

The FCC's approval, which was necessary for the deal to move forward, caps a long-running corporate saga over the fate of Paramount, which owns Paramount+, the Paramount Pictures movie and television studios, the CBS television network and CBS News and Stations. Paramount also owns Nickelodeon, BET, MTV, Comedy Central and other media brands.

Comedy Central’s “South Park” recently struck a five-year deal with Paramount after a merger delayed the Season 27 premiere.

South Park' couldn't have returned at a better time. The season-opening episode is brutal in its treatment of Paramount, CBS and President Trump.

Parker and Stone reached a $1.5 billion streaming deal with Paramount after a monthslong bidding war, according to the Los Angeles Times. Paramount is the parent company of Comedy Central, where South Park airs, and CBS—which has received widespread criticism over its decision to cancel The Late Show With Stephen Colbert.

South Park” creators Trey Parker and Matt Stone hit the Comic-Con stage on Thursday night, a day after the Season 27 premiere of their smash Comedy Central series, “Sermon on the ‘Mount,” made waves for taking on both Donald Trump and “South Park’s” Paramount corporate parents.

After an intense, scandal-plagued acquisition, here's what David Ellison gets in Skydance's acquisition of Paramount Global.

Season 27 premiered Wednesday on Comedy Central with an episode titled "Sermon on the 'Mount" -- as in Paramount

Plus, Hulk Hogan, the pro wrestler who brought the sport to new heights of mainstream popularity, died at the age of 71.

With the FCC having cleared the Skydance Media-Paramount merger and the deal set to close in a matter of weeks, Paramount Global co-CEO Chris McCarthy will leave the media conglomerate, a company source confirmed to Variety.