David Ellison, the tech scion who will run the combined company, borrowed the name of his original entertainment company that reflects his love of aviation.

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David Ellison is negotiating to keep CNN’s chief executive, Mark Thompson, in place without oversight from Bari Weiss, the CBS editor in chief, when the networks’ parent companies merge.

David Ellison is negotiating to keep CNN’s chief executive, Mark Thompson, in place without oversight from Bari Weiss, the CBS editor in chief, when the networks’ parent companies merge.

Ynon Kreiz, who will work alongside David Ellison at the merged company, helped turn Barbie into a blockbuster movie.

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Cindy Holland’s departure clears the way for Casey Bloys, the HBO chairman, to have a leading role in the combined company’s streaming services.

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Free speech and media advocacy groups urged a judge to block a California settlement with Paramount Skydance that would let the company finalize its $111 billion merger with Warner Bros. Discovery.

Twelve states led by California sued to block the deal in July and were able to delay it when US District Judge Araceli Martínez-Olguín ruled that Paramount combining with Warner Bros. would likely reduce competition substantially and violate antitrust laws. Despite that initial victory, California Attorney General Rob Bonta announced a settlement with Paramount earlier this week and the other states involved in the lawsuit signed on to the deal.

Martínez-Olguín must decide whether to approve the settlement. A coalition of free speech and media advocacy groups told the judge in a filing yesterday that the deal will give residents of the states that sued Paramount "virtually nothing." The filing was submitted by the Committee for the First Amendment, Free Press, Freedom of the Press Foundation, Future Film Coalition, and International Documentary Association.

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Seeking to settle a lawsuit with 12 states, Paramount has discussed measures to protect the editorial independence of CNN and the divestiture of Comedy Central.

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The Federal Communications Commission yesterday approved Paramount Skydance's plan to sell large equity stakes to the sovereign wealth funds of Saudi Arabia, the United Arab Emirates, and Qatar.

Under US law, companies with licenses to run broadcast stations need FCC approval to have direct or indirect foreign ownership exceeding 25 percent of the company's stock. Paramount says its indirect foreign ownership will reach 49.5 percent after it receives investments from the sovereign wealth funds and filed a petition asking the FCC to waive the foreign ownership limit.

Paramount, the owner of CBS, holds FCC licenses for the 28 local CBS stations that it owns and operates. Paramount is buying Warner Bros. Discovery in a $111 billion deal that is being partially financed with foreign investment but hasn't completed the acquisition because US states filed a lawsuit that aims to block the merger. Trump's Department of Justice approved the merger.

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