New Hollywood era begins with an epic mega merger between Paramount and Warner Bros.
A massive $111 billion merger between Paramount and Warner Bros. Discovery has been finalized, creating a new media conglomerate under the Skydance brand. The deal consolidates major film studios, streaming services, and news outlets like CNN and CBS.
Why it matters
This consolidation represents a significant shift in the media landscape, concentrating control of iconic cultural assets and news organizations under a single entity.
LOS ANGELES — A new era in Hollywood is set to begin with a new media conglomerate called Skydance .
Media Paramount makes concessions to salvage $111 billion Warner Bros. Discovery deal David Ellison's long-anticipated — and long-feared — deal to consolidate Paramount-Skydance and Warner Bros. Discovery is expected to close Tuesday. The $111 billion merger faced months of public protests, but ultimately passed legal and regulatory challenges in the U.S. and in Europe.
Ellison will control the new media empire with help from his billionaire father Larry Ellison and investors from Saudi Arabia, Qatar and other Middle Eastern countries. The company, Skydance, combines two legendary film studios, both more than 100 years old: Paramount Pictures and Warner Bros. Pictures.
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