Paramount completes $111B Warner merger, creating “Skydance” behemoth
Paramount now owns Warner Bros. as last-ditch effort to stop $111B merger fails.
Paramount and Warner Bros. Discovery have finalized a $111 billion merger to create a new entity called Skydance, a conglomerate encompassing two of the world's largest movie studios, streaming platforms, and various media assets. The combined company will include Paramount+, HBO Max, CBS, CNN, CBS Sports, TNT Sports, and a vast library of programming and intellectual properties.
This monumental merger faced a brief setback when California and 11 other states filed a lawsuit, arguing that the deal would undermine competition and violate antitrust laws. However, their efforts were ultimately unsuccessful, as Supreme Court Justice Elena Kagan dismissed the challenge.
Written by urgent.news from Ars Technica's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
