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.

Paramount Global and Skydance Media completed their $8.4 billion merger on Thursday, capping a drawn-out deal process marked by political scrutiny and shareholder concerns.