Nearly thirteen months after Shari Redstone and David Ellison came to terms, following months of back-and-forth, on a megadeal that will transfer ownership of Paramount Global, there's now a close date in sight: August 7.

The $8 billion deal's green light comes after CBS reached a $16 million settlement with Donald Trump over his lawsuit against "60 Minutes"

The Larry Ellison family and RedBird Capital Partners are expected to take control of Paramount in the coming days. David Ellison, 42, will serve as chairman and chief executive.