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.

Skydance separately promised to appoint a CBS News ombudsman to 'promote transparency and increased accountability' at CBS News. Skydance CEO David Ellison also has met with center-right journalist Bari Weiss.

With this week’s FCC approval, the merger between Paramount Global and Skydance Media is expected to be completed in the coming weeks at a value of $8 billion. The question for the new company is whether the psychic cost is much higher.

Upon closing of Paramount Global and Skydance Media's $8 billion merger, Oracle co-founder and chairman Larry Ellison will hold a minority voting interest of approximately 35.5% in the combined company.

In meeting with FCC officials, Skydance's David Ellison promised that CBS's "editorial decision-making reflects the varied ideological perspectives of American viewers."

David Ellison met this week with Brendan Carr and FCC staffers to discuss the Paramount Global merger which is still under agency review.

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.’