As the Paramount–Skydance merger lurches toward an Oct. 4 deadline, Elaine Low, Sean McNulty, Lesley Goldberg and Ashley Cullins break down the latest on who’s in, who’s out, what Cindy Holland will do when she takes creative control of Paramount+ as expected, and Hollywood buzz about “New Paramount”: Who’s actually buying shows and who’s riding out the clock, and what the new org chart and spin-offs will look like. Plus: is a Peacock–Paramount+ hookup still on the table, is Skydance really calling the shots, and can any streamer survive without merging?

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