Paramount called the move “a financial decision against a challenging backdrop in late night.” Skydance Founder and Son of Oracle’s Larry Ellison Will Lead New Paramount Paramount and Skydance agreed to merge in June after months of negotiations.

Skydance, which is acquiring Paramount Global in an $8 billion merger, was founded by Oracle Chairman Larry Ellison's son.

Oracle is currently in discussions with Skydance Media to reach a major software deal following the closing of the latter's pending $8 billion merger with Paramount Global, according to Bloomberg. The outlet reported that the agreement,

Skydance Media, run by David Ellisonthe son of Oracle founder Larry Ellisonalready spends around $2.2 million annually on Oracle's cloud services. But with the Paramount deal in motion and backed by Larry Ellison,

Following Skydance's acquisition of Paramount, the potential agreement will enable Paramount and its subsidiaries to utilise Oracle's cloud software.

Skydance needs FCC approval in order to take over Paramount. It’s now promising to root out “bias” at CBS News in order to get it.