On the first day as the new owner of Paramount, CEO David Ellison insisted that Skydance was “not involved” in the Donald-Trump Paramount settlement, but deflected questions about a potential Skydance side deal made with Trump to run PSAs.

David Ellison's Skydance Media has closed its $8 billion merger with Paramount Global to create new company Paramount, a Skydance Corporation, the company announced Thursday. The finalization of the acquisition follows the FCC’s July 24 approval of the deal,

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 billionaire Skydance founder David Ellison.