Good morning. If you thought Larry Ellison was going to run Paramount, think again.
A month ago, Skydance Media told the FCC that the Oracle founder would have voting control of the media company formerly known as ViacomCBS when Skydance closes its $8 billion deal. It has now filed a revision saying no, it’s actually son David who calls the shots.
Why the confusion? David, 41, was always intended as CEO of the combined company, should regulators approve their merger, but companies controlled by his father, 80, are contributing the bulk of the cash necessary to get the deal done.
Fans of corporate governance (and Succession) can agree: Clarity beats screaming “I’m the eldest boy” any day of the week. —Andrew Nusca
P.S. My editor asked me to tell you that Target CEO Brian Cornell, who I interviewed at Fortune Brainstorm Tech way back in 2017, is speaking at Fortune Global Forum in NYC next month. Interested? Request an invitation here.
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