Paramount Global’s Co-CEO Chris McCarthy will step down from the company ahead of its impending merger with Skydance Media, according to a company source confirmed to Variety. The merger, which received approval from the Federal Communications Commission (FCC) this week, is expected to close within weeks.
McCarthy, who also leads Showtime and MTV Entertainment Studios, was appointed co-CEO in April 2024 alongside George Cheeks (CBS) and Brian Robbins (Paramount Pictures and Nickelodeon) following the ousting of former CEO Bob Bakish. Sources say Robbins is also expected to depart, while Cheeks will remain in charge of CBS post-merger.
Once the merger is finalized, Skydance CEO David Ellison will take over as CEO of the combined company, to be named Paramount Skydance Corp. Former NBCUniversal executive Jeff Shell will serve as group president.
The FCC’s approval followed a $36 million settlement between Donald Trump and Paramount, resolving a legal dispute over a 2024 interview with Vice President Kamala Harris. Paramount said the settlement removed the final regulatory hurdle for the merger.
