The merger catapults new power players to the top of Hollywood and ends a tortuous process that has lasted well over a year.

Skydance Media and Paramount Global have completed their merger, creating a new media conglomerate and ending months of turmoil over the deal that has drawn allegations of corruption directed at the Trump administration.

A full year after Paramount's board approved a deal for Paramount to merge with Skydance, that deal has finally closed, and the merger is officially complete.