The long saga of Paramount's sale to David Ellison's Skydance Entertainment is finally done; how is he likely to reshape the century-old media company for the future?

After finally getting approval from the Federal Communications Commission, Skydance Media is just weeks away from completing its $8-billion merger with Paramount Global, leading to sweeping changes for some of the most iconic media brands.

Paramount Global posted second-quarter earnings that exceeded Wall Street estimates on Thursday as the company prepares for a sale to Skydance Media.