Skydance Media CEO David Ellison will lead the new company as chief executive after the completion of its merger with Paramount Global by August 7, the independent studio said Monday.

After the deal closes, the company is expected to be structured into three primary business segments — studios, direct-to-consumer and TV media.

The Federal Communications Commission cleared the merger last month, just weeks after Paramount settled a lawsuit filed by U.S. President Donald Trump over CBS' editing of a "60 Minutes" interview with his Democratic opponent, former Vice President Kamala Harris.