The transfer is subject to regulatory approvals; Chevron expects it to close by year-end 2026, when it expects to recognize the estimated after-tax loss.
Fourth-quarter net income was $123,096; a $260,000 one-time retiring allowance for the former CEO was charged against income under his separation agreement.
Former UK Prime Minister Tony Blair is set to advise; all current Paramount directors remain, and David Ellison continues as chair and CEO of Skydance.