Paramount Completes $110 Billion Acquisition of Warner Bros. Discovery, Forming Skydance
Paramount has finalized its acquisition of Warner Bros. Discovery (WBD) in a $110 billion deal, creating the new media company Skydance. The merger unites major film studios, TV networks such as HBO and CBS News, and streaming services under one entity. After months of negotiations and regulatory challenges—including a legal battle with Netflix—Paramount overcame its last hurdle by settling antitrust lawsuits from 12 states in September 2026. The settlement requires Skydance to release at least 30 theatrical films annually for the first two years post-merger, as well as increase U.S. production spending by $300 million compared to combined pre-merger levels. David Ellison and Ynon Kreiz will co-lead the new company, with Ellison emphasizing that Skydance aims to become a stronger competitor in global storytelling across all platforms.
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Topics: entertainment industry media mergers and acquisitions