- Paramount finalized its $81 billion acquisition of Warner Bros. Discovery, forming a unified Hollywood giant renamed Skydance.
- Valued at nearly $111 billion including debt, the historic deal brings together legacy properties including HBO Max, CNN, Paramount+, CBS, Harry Potter, and Top Gun under one roof.
- The newly consolidated media company will be led by Skydance CEO David Ellison alongside co-CEO Ynon Kreiz.
- The acquisition concludes a yearlong corporate struggle that saw Paramount launch a hostile counterbid to disrupt Warner's initial agreement with Netflix.
- Netflix ultimately bowed out of the bidding war after Paramount increased its offer to $31 per share for the entirety of Warner Bros. Discovery.
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