Paramount takes over Warner Bros in $110bn Hollywood merger
Paramount Skydance has finalized a $110 billion acquisition of Warner Bros. Discovery, creating a massive new media entity rebranded as Skydance Corporation. The merger consolidates major studios, streaming services, and iconic franchises like Harry Potter and DC Studios under the leadership of David Ellison.
Why it matters
This consolidation represents a seismic shift in the Hollywood landscape, potentially altering streaming competition and the future of major news outlets like CNN.
Image source, Getty Images By Christal Hayes Reporting from Los Angeles Published 6 October 2026, 13:55 BST Updated 1 minute ago Paramount Skydance has officially taken over Warner Bros Discovery in a $110bn merger that is set to reshape Hollywood and the media landscape.
The takeover - merging two of the biggest studios in Los Angeles - comes after months of legal disputes and widespread criticism over feared cuts and consolidation could harm competition and consumers.
It will alter streaming for millions, usher in a new chapter in the film and TV industry, and leave one of the biggest US news outlets, CNN, in uncertain territory.
The merger will also bring together a host of entities including HBO, CBS, Nickelodeon, Showtime, Comedy Central, DC Studios and Food Network.
Paramount will acquire ownership of iconic franchises that include Harry Potter, Game of Thrones, The Lord of the Rings and Mission: Impossible.
Also covering this story
6 other newsrooms covered this event. We read each version separately.
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David Ellison has finally bought Warner Bros. Discovery, remaking Hollywood
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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