With the Thursday morning close of Paramount Global and Skydance Media’s troubled $8.4 billion merger comes a new set of challenges: actually running the thing. The company’s new CEO, David Ellison, acknowledged the merger’s bumpy road in an open letter addressed to the company’s employees, shareholders and customers on Thursday.

David Ellison, the new CEO of Paramount, referred to what he called a “challenging period” for CBS News, while praising the division’s “long tradition of impactful reporting,” including the legacy of 60 Minutes.

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.

Stephen Colbert was unafraid to call out CBS and Paramount after The Late Show was abruptly axed, but according to an insider, his pals are concerned he’s going too far with his continued criticism of the networks.

CBS' CEO George Cheeks has finally addressed the rampant rumors regarding the true reason why The Late Show With Stephen Colbert was canceled.