{
  "id": 12483685,
  "title": "Paramount completes Warner Bros takeover, creating Skydance",
  "url": "https://urgent.news/2026/10/06/paramount-completes-warner-bros-takeover-creating-skydance-12483685",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-06T21:40:51.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/highlight/2026/10/07/paramount-completes-warner-bros-takeover-creating-skydance"
  },
  "original_language": "en",
  "account": "In a major media consolidation, Paramount and Warner Bros Discovery merged to form Skydance, a new conglomerate under the leadership of David Ellison. The combined entity unites Paramount Pictures, Warner Bros Pictures, CBS News, CNN, and HBO and CBS television brands. Ellison aims to eventually merge Paramount+ and HBO Max streaming services. The new corporation, Skydance, boasts nearly US$70 billion in annual revenue and plans to save over US$6 billion in costs within three years. Former Mattel chief Ynon Kreiz will serve as co-CEO alongside Ellison, who will oversee day-to-day operations. The deal, backed by US$47 billion in new equity, faces scrutiny over potential job cuts and the independence of CNN's news media. Despite concerns from critics and industry opponents, the merger closed after the federal government approved it, despite raising antitrust concerns.",
  "summary": "David Ellison will lead the combined media giant spanning film, television and news as it targets US$6 billion in cost savings.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Free Malaysia Today",
        "title": "Paramount completes Warner Bros takeover, creating Skydance",
        "url": "https://urgent.news/2026/10/06/paramount-completes-warner-bros-takeover-creating-skydance",
        "published": "2026-10-06T21:40:51.000Z"
      },
      {
        "outlet": "New Straits Times",
        "title": "Paramount completes Warner Bros takeover, creating Skydance",
        "url": "https://urgent.news/2026/10/06/paramount-completes-warner-bros-takeover-creating-skydance-12497249",
        "published": "2026-10-06T23:38:15.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}