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[BUSINESS] · United States · 100 sources

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Skydance completes $111 billion merger of Paramount and Warner Bros. Discovery

Paramount Skydance has officially completed its $111 billion acquisition of Warner Bros. Discovery, creating a new media conglomerate named Skydance Corporation. The deal, which includes significant debt, consolidates major entertainment assets including Paramount Pictures, Warner Bros., HBO, CBS, CNN, and DC Studios under a single corporate entity.

David Ellison will serve as chairman and CEO, with Ynon Kreiz acting as co-CEO. The company plans to unify its streaming services, such as Paramount+ and HBO Max, into a single platform over time. To address antitrust concerns raised by several U.S. state attorneys general, Skydance has committed to specific guardrails, including an annual release of at least 30 films and the establishment of a News Editorial Independence Board to monitor CNN and CBS News.

The merger aims to achieve $6 billion in cost synergies over the next three years and marks a significant consolidation in the Hollywood landscape, bringing together iconic franchises like Harry Potter, Game of Thrones, and Mission: Impossible.

Entities

David Ellison · Netflix · Paramount · Paramount Global · Skydance · Skydance Corporation · Warner Bros. Discovery · Ynon Kreiz

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