Paramount and Warner Bros. Discovery to merge as Skydance

Paramount and Warner Bros. Discovery will merge under the new name Skydance, after receiving court approval to settle antitrust concerns raised by 12 states. The deal, valued at about $110 billion, will combine two major studios, their networks, and streaming services including Paramount+ and HBO Max. The consent decree requires Skydance to release a minimum number of U.S. films annually and increases spending on U.S. productions, with financial penalties if targets are missed.

• Skydance becomes parent company for Paramount and Warner Bros.
• Combined entity must release at least 30 U.S. films annually
• Financial penalties imposed for not meeting film targets
• Consent decree increases required spending on U.S. productions
• Paramount+ and HBO Max will merge into one streaming service