Paramount wraps up mega Warner Bros merger to create Hollywood powerhouse Skydance
Paramount and Warner Bros Discovery have finalized a US$110 billion merger to form Skydance, a major Hollywood conglomerate. CEO David Ellison will oversee the combined company, which will house studios behind hit franchises like Mission: Impossible, Harry Potter, and DC. The merger includes major TV and streaming networks such as CBS, CNN, Paramount+, and HBO Max.
The deal, which brings together film, TV, and news operations, was approved after settling legal issues with US states and a Hollywood writers' union. Shares of Skydance will trade on the New York Stock Exchange under the ticker SKYD. While the merger aims to create cost savings, it may result in job cuts across the industry. The company is also expected to carry $80 billion in debt, putting pressure on Ellison to grow streaming, maintain cash flow from cable networks, and boost theatrical film performance.
Written by urgent.news from CNA - Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Paramount and Warner Bros are now one Hollywood giant: Skydance. Here’s how we got here toronto.citynews.ca
- Paramount takes over Warner Bros in $110bn Hollywood merger bbc.co.uk
- Paramount wraps up mega Warner Bros merger to create Hollywood powerhouse Skydance channelnewsasia.com
- Paramount closes $110B deal with Warner Bros. Discovery after months of wrangling torontosun.com
- Paramount and Warner Bros are now one Hollywood giant: Skydance. Here’s how we got here winnipegfreepress.com
