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$110BStrategic acquisitionMedia & TelecomCompleted

Paramount closes $110B Warner Bros. Discovery takeover, becomes Skydance

Paramount completed its $110 billion acquisition of Warner Bros. Discovery on October 6, forming a combined company called Skydance under David Ellison. The deal unites Paramount+ and HBO Max with CBS, CNN, TBS and franchises like Game of Thrones and the DC Universe. It closed after settlements with a coalition of U.S. states and a Hollywood writers' union cleared the main legal hurdles.

Why it matters: One of the biggest mergers of all time reshapes Hollywood, ending a bidding battle in which Netflix had earlier agreed to buy WBD's studios and streaming business.

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