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?

Skydance this week is expected to complete is $8 billion acquisition of Paramount Global, following a 20-month process that was cinched via political appeasement. The big question is what comes next.

In just under two weeks, Paramount Global will complete its merger with the smaller Skydance Media to form “ Paramount Skydance Corp.” — and bring a rollercoaster M&A ride to its conclusion. The FCC cleared the Skydance-Paramount deal Thursday, removing the last regulatory obstacle.