Paramount Completes $110 Billion Merger with Warner Bros. to Form Skydance
· Telemundo McAllen (KTLM)
It's official: Paramount, owned by Skydance, completed the acquisition of Warner Bros. Discovery for $81 billion on Tuesday, paving the way for a new Hollywood giant. The merger brings together two of the oldest film studios in the United States under a new name: Skydance. The deal, which followed nearly a year of contention, further concentrates power in an industry already dominated by a handful of major companies. HBO Max, titles ranging from 'Harry Potter' to 'Sinners,' and networks like CNN are now under the same roof as Paramount+, CBS, and productions like 'Top Gun' and 'The Godfather.' All of this falls under the leadership of billionaire David Ellison and his new co-CEO, Ynon Kreiz. 'Today is a historic day, not just for Skydance, but for our entire industry,' Ellison said in a statement on Tuesday. 'We couldn't be more excited to start working.' Including billions of dollars in debt, the acquisition of Warner amounts to nearly $111 billion.
AI summary · Source: Telemundo McAllen (KTLM) →
