Paramount Closes $81 Billion Skydance-Warner Bros. Merger Deal.
Paramount Skydance closed its acquisition of Warner Bros. Discovery on Tuesday, creating a combined media giant rebranded as Skydance. David Ellison will serve as CEO alongside co-CEO Ynon Kreiz, the former head of Mattel.
- $110 billion: the total value of the deal, including assumed debt.
- $52 billion in new debt was raised to complete the transaction.
- Shares began trading on the New York Stock Exchange under ticker "SKYD."
- $6 billion in targeted cost savings; job cuts across Hollywood are anticipated.
Why it matters: The merger consolidates three major film studios, two global streaming services, and two major news networks — CBS and CNN — under a single owner.
- HBO Max and Paramount+ are planned to merge into one unified streaming service.
- The combined company will carry roughly $80 billion in total debt, pressuring Ellison to grow revenue quickly.
How 59 sources split on this story
Where they split: Coverage divides on whether regulatory settlements — including an editorial independence board for CNN and CBS — provide meaningful protections or are largely symbolic.
Center coverage, 25 sources: The center focuses on deal mechanics, debt levels, and the strategic challenge Ellison faces building a sustainable business from a heavily leveraged transaction.
Axios8hParamount closes historic $110B deal for Warner Bros. Discovery to create SkydanceCNCTV News11hParamount wraps up mega Warner Bros merger to create Hollywood powerhouse Skydance
Deadline3hDonald Trump Weighs In On New Skydance: “They’re Terrific People, And It’s Going To Be A Great Company”
Associated Press8hFrom HBO Max to Harry Potter, here’s what’s now under the Skydance umbrella
BBC News11hParamount-Warner Bros merger: Four ways the deal could affect you
Engadget6hSkydance Will Combine HBO Max And Paramount+ Into A Single Streaming ServiceYNYahoo News11hParamount-Warner Bros. Discovery merger closes after nearly yearlong battle, paving the way for Skydanceabcabc27 (WHTM)10hParamount closes deal to acquire Warner Brothers Discovery
CNBC14hParamount's hard-fought takeover of Warner Bros. Discovery closes Tuesday. Here's how we got here
Deutsche Welle10hParamount and Warner Bros merge into one Hollywood giant
Financial Times11hDebt in the spotlight as Paramount closes $111bn deal for Warner Bros
Forbes11hSkydance Is Here: Paramount Closes $110 Billion Warner Bros. Merger After Months Of ControversyLeft coverage, 21 sources: The left emphasizes concentration of power, threats to editorial independence at CNN and CBS, and the political ties between the Ellison family and the Trump administration.
MSNBC11hParamount closes $81 billion Warner Bros. Discovery deal, forming new Hollywood giant
CBS News9hParamount closes $110 billion deal to acquire Warner Bros. Discovery, creating Skydance
The Independent3hWhat Paramount’s Warner Bros. takeover means for streaming, movies and news
Variety4hDonald Trump Praises Newly Merged Paramount-Warner Bros and David Ellison
Hollywood Reporter8hRedBird Invests Another $4 Billion In Paramount’s Warner Bros. Takeover
Mediaite3hThe Paramount/WBD Merger is Done — So What’s Next for CNN?TBGThe Boston Globe7hHere’s what’s under the Skydance umbrella
The Verge8hHBO Max and Paramount Plus will merge into a single streamer under Skydance
Al Jazeera3hCNN, CBS News now under one roof as Paramount-Warner Bros merger closesBosBoston.com11hParamount and Warner Bros. to become one Hollywood giant: Skydance. Here's how we got here.
Business Insider10hRead David Ellison's memo to employees as Paramount-WBD deal closes
CNN11hDavid Ellison has built a Hollywood giant in Skydance. Now he wants to make it a tech companyRight coverage, 13 sources: The right frames the merger as a straightforward business milestone and highlights Ellison's stated commitment to the combined studios.
The Post Millennial10hBREAKING: Paramount officially closes $81 billion Warner Bros merger
New York Post11hDavid Ellison's new mega-studio debuts on Wall Street as Skydance preps its Hollywood pitch
The Epoch Times1dParamount-Warner Bros. Discovery Merger Closes, Creating New Media Behemoth
Washington Examiner10hParamount merges with Warner Bros., creating Skydance media empire
BizPac Review9hParamount Closes Mega Warner Bros. Takeover After Dem AGs, Hollywood Actors Attempted To Kill It
Breitbart News9hParamount Warner Bros. Deal Is Done. Here’s How Hollywood Giant Skydance Was Born
Newsmax22hKagan Rejects Bid to Block Paramount-Warner Merger
RedState11hPrepare for More CNN and Leftist Meltdowns: 'Skydance' Is HereTCSThe Center Square4hSkydance completes merger of Paramount, Warner Bros.
The Daily Caller9hHollywood Giant Closes Takeover Of Rival After Dem AGs, Star Actors Attempted To Kill It
The Daily Wire1dCNN And CBS Just Got A New Boss And Conservatives May Like Who It Is
The Gateway Pundit6hIT’S OFFICIAL: Paramount Closes $81 Billion Warner Bros. Discovery Takeover — CNN, CBS, HBO and Warner Bros. Now Under Right-Leaning Billionaire Family * The Gateway Pundit * by Jim HᴏftWhat’s next: Under the state settlement, Paramount must produce 30 films annually for each of the first two years.
- Paramount is barred from selling or closing the Paramount or Warner Bros. studio lots for at least five years.
- Mark Thompson remains CNN's editor-in-chief; Bari Weiss continues as CBS News editor-in-chief.
- How many jobs will be eliminated as the two companies integrate and pursue $6 billion in cost savings?
- Will the News Editorial Independence Board provide meaningful separation from Ellison's oversight, or will his appointment power limit its effect?
- Can the combined company service its debt load while growing streaming revenue against entrenched competitors?