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.

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.

David Ellison’s Skydance Media has closed its $8 billion merger with Paramount Global to create new company Paramount Skydance Corp.