Trump Endorses David Ellison Amid Paramount Merger Uncertainty

Former President Donald TRUMP endorsed Skydance CEO David Ellison, calling him "great" and predicting he would "do a great job" at Paramount Global (NASDAQ: PARA). The endorsement provided a slight boost to Paramount's stock in late trading Wednesday, despite ongoing legal and regulatory hurdles.

The proposed merger between Skydance and Paramount remains in limbo, delayed by Trump's lawsuit over a 60 Minutes interview and an FCC review. Investors shrugged off the irony of Trump supporting Ellison while simultaneously obstructing the deal through litigation.

Market observers noted the endorsement's fleeting impact as fundamental uncertainties persist. The FCC's regulatory scrutiny and pending legal challenges continue to cloud the merger's timeline, leaving Paramount's near-term trajectory uncertain.