Paramount closes historic $110B deal for Warner Bros. Discovery to create Skydance
Paramount Skydance on Tuesday closed its deal to acquire Warner Bros. Discovery, ending a dramatic, yearlong process that rattled Hollywood, Wall Street and Washington. Why it matters: The deal creates one of the largest entertainment behemoths in the world and makes David Ellison — a lesser-known figure outside of Hollywood — one of the most powerful people in culture and business. Zoom in: The…
Paramount and Skydance on Tuesday completed a historic $110 billion deal to acquire Warner Bros. Discovery, marking the formation of one of the largest entertainment conglomerates globally. The deal solidifies David Ellison, a lesser-known figure outside Hollywood, as one of the most influential people in culture and business. The combined entity will encompass three major movie studios, two global streamers, and two significant news networks.
The merger of HBO Max and Paramount+ into a unified streaming platform is also in the pipeline. This deal, one of the most highly leveraged transactions in American history, has tested the market's appetite for megamergers financed by substantial debt, even as it raises concerns about job cuts in the creative industry.
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