Paramount Skydance makes crucial legal chief appointment amid takeover chatter for WBD

Paramount Skydance (NASDAQ:PSKY) has appointed Makan Delrahim as the company's chief legal officer, the media and entertainment company said in a public statement on Thursday.

Delrahim will oversee all legal, regulatory, compliance, and public policy matters, including oversight of the government relations team, Paramount said.

He joins from Latham & Watkins LLP, where he provided legal counsel to Skydance Media and successfully helped close the merger transaction with Paramount by staying throughout the year-long process.

Delrahim is also the former assistant attorney general for the U.S. Department of Justice's antitrust division under the first Trump presidency.

The crucial appointment by CEO David Ellison comes amid media chatter that Paramount is eyeing a takeover of rival Warner Bros. Discovery (NASDAQ:WBD), which is planning to split into two companies by next year.

Reports also suggested that Paramount's bid for WBD would take a bit longer than expected, and the offer could be between $22 and $24 a share.

Stephanie Kyoko McKinnon, current general counsel and acting legal chief, will work under Delrahim, the company said.

Delrahim's appointment will be effective October 6.