With the Thursday morning close of Paramount Global and Skydance Media’s troubled $8.4 billion merger comes a new set of challenges: actually running the thing.
The company’s new CEO, David Ellison, acknowledged the merger’s bumpy road in an open letter addressed to the company’s employees, shareholders and customers on Thursday.
While most of the letter uses corporate-speak to look optimistically ahead, Ellison briefly broke character as he reflected on the company’s news division.
“We recognize it’s been a challenging period and we’re deeply grateful for your resilience, professionalism, and unwavering commitment to the news business,” wrote Ellison.
“We take immense pride in CBS News’ legacy of impactful journalism and look forward to continuing to foster a newsroom culture where journalists are empowered, trusted, and equipped to do their best work.”
