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Paramount and Warner Bros. Discovery complete their $111 billion merger, forming Skydance with HBO, CNN, Paramount+ and two major Hollywood film studios.
Paramount has completed its $110 billion acquisition of Warner Bros. Discovery, creating Skydance, a media giant spanning studios, streaming, TV and news.
After their merger closes, Paramount and Warner Bros. Discovery will operate as Skydance, while the Paramount and Warner Bros. studio brands remain intact.
A U.S. federal judge has temporarily paused Paramount Skydance’s proposed $110 billion acquisition of Warner Bros. Discovery following an antitrust lawsuit from 12 state attorneys general.
Netflix has stepped away from a potential bid for Warner Bros. Discovery, leaving Ellison-backed Paramount positioned to acquire key assets, including HBO, Warner Bros. studios, and CNN.
Netflix has reportedly revised its takeover bid to an all-cash offer for Warner Bros., aiming to strengthen its position amid competing interest from Paramount.
Paramount has filed a lawsuit against Warner Bros. Discovery seeking greater financial disclosure over Netflix’s proposed $82.7 billion acquisition, as opposition to the merger intensifies.
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