David Ellison as CEO and former NBCUniversal boss Jeff Shell as president are running the combined Hollywood company, looking for opportunities for investments in growth and cost reductions.

Skydance Media and Paramount Global have completed their merger, creating a new media conglomerate and ending months of turmoil over the deal that has drawn allegations of corruption directed at the Trump administration.

Paramount Global and Skydance Media completed their $8.4 billion merger on Thursday, capping a drawn-out deal process marked by political scrutiny and shareholder concerns.