Paramount closed its $81 billion takeover of Warner Bros Discovery, forming a combined media and entertainment giant named Skydance led by David Ellison and co-CEO Ynon Kreiz.
Including Warner Bros Discovery's debt, the transaction reached nearly $111 billion, uniting major film studios, HBO Max, CNN, CBS, and Paramount+.
The deal proceeded following antitrust settlements in September wherein Paramount agreed to increase US film production and establish a worker support fund.