Paramount and Warner Bros. complete $111B Skydance merger

Paramount and Warner Bros. Discovery finalized their $111 billion merger, forming a new entity called Skydance. The deal consolidates two major Hollywood studios, as well as assets like Paramount+, HBO Max, CBS, and CNN. The merger followed legal challenges over competition, with a multistate antitrust lawsuit settling last month. CEO David Ellison has said layoffs are expected as operations are integrated.

• $111 billion merger creates Skydance entity
• Paramount+ and HBO Max to eventually combine
• Layoffs expected as part of integration
• Legal scrutiny over antitrust resolved with settlement
• Combination reduces major Hollywood studios to four