David Ellison has finally bought Warner Bros. Discovery, remaking Hollywood
David Ellison has completed the $110 billion acquisition of Warner Bros. Discovery, merging it with Paramount to form a new media powerhouse called Skydance. The new company aims to compete with industry giants like Disney and Netflix by leveraging a vast library of intellectual property and streaming assets.
Why it matters
This merger creates a new dominant player in the entertainment industry, though the company faces significant challenges including high debt and a crowded streaming market.
David Ellison has created Skydance by bringing together Paramount and Warner Bros. Discovery. Mario Tama/Getty Images; David Becker/Getty Images for CinemaCon; Mario Tama/Getty Images Paramount has bought Warner Bros. Discovery, forming a new media giant: Skydance. David Ellison has become a media mogul overseeing two major movie studios, HBO, CNN, and CBS News. Skydance will be run by Ellison and co-CEO Ynon Kreiz, who will oversee the merger integration. David Ellison has completed his purchase of Warner Bros. Discovery for $110 billion in a mega-deal that promises to reshape Hollywood. Paramount Skydance, now known as Skydance , closed its acquisition of WBD on Tuesday. The combined company now controls Paramount Pictures and the Warner Bros. studio; streaming services HBO Max, Paramount+, Pluto TV, and Discovery+; and TV networks HBO, CBS, CNN, TNT, HGTV, and The Food Network.
Also covering this story
6 other newsrooms covered this event. We read each version separately.
New Hollywood era begins with an epic mega merger between Paramount and Warner Bros.
Paramount closes historic Warner Bros. merger to form Skydance
Paramount takes over Warner Bros in $110bn Hollywood merger
Paramount names leadership team for combined Skydance entity ahead of Warner Bros. deal close
Paramount and Warner Bros. Discovery complete $110 billion media megamerger
David Ellison Names Skydance Corp.’s New Leadership Team for Movies, TV, Streaming and More - Variety
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