ViacomCBS Skydance Merger Sparks $730M Volume Surge Ranking 95th Amid Regulatory Scrutiny and Political Fallout

ViacomCBS and Skydance Media’s merger closed on August 7, 2025, with the combined entity trading under the symbol PSKY. On August 21, the stock surged 14.66% to close at a volume of $0.73 billion, a 482.16% increase from the prior day, ranking 95th in trading activity. The rally coincided with heightened regulatory scrutiny and leadership transitions at the newly formed company.

House Democrats launched an investigation into the $8 billion merger, focusing on a $16 million settlement with Donald Trump related to a 60 Minutes interview. Lawmakers questioned whether the payment constituted an illegal bribe to secure FCC approval under Trump’s appointed commissioner, Brendan Carr. The inquiry also highlighted the cancellation of Stephen Colbert’s late-night show, a move criticized as politically motivated despite being framed as financially driven. The merger’s approval process was marked by allegations of anti-conservative bias reviews and the removal of diversity initiatives at CBS News.

David Ellison, son of Oracle founder Larry Ellison, assumed the role of chairman and CEO of the merged entity, with his father’s private meetings with Trump raising concerns about undue influence. Skydance’s board now includes prominent figures like Safra Catz (Oracle CEO) and Sherry Lansing (former Paramount Pictures head), emphasizing the company’s alignment with major shareholders. Non-voting shares of the new entity will trade under PSKY, with voting control consolidated within the Ellison family.

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