David Ellison, an actor-turned-producer and son of centibillionaire Larry Ellison, will helm Paramount after its merger with his Skydance media company is complete.

More than a year after Skydance Media and its partners clinched a deal with Shari Redstone and Paramount Global to merge the companies, the FCC has yet to act on an application to approve the transfer of CBS licenses to the new ownership.

The chairman of the FCC says the merger will ‘enable CBS to operate in the public interest and focus on fair, unbiased, and fact-based coverage.’

Elizabeth Warren, Bernie Sanders and Ron Wyden also question whether Skydance was involved in discussions to cancel The Late Show with Stephen Colbert

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