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?

Paramount Global squeezed out a small profit in its last quarter before an anticipated sale to Skydance Media, boosted in part by new subscriptions to the Paramount+ streaming service amid a period in which traditional revenue from advertising and cable distribution fell.

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