Paramount Closes Warner Merger in Historic $110 Billion Deal
Deals·7 articles across 7 outlets·↩ Updated
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
Paramount has completed its $110 billion acquisition of Warner Bros. Discovery, forming a combined company known as Skydance. The merger officially puts Paramount and WBD's film studios, along with major networks and brands like HBO, CBS News, and CNN, under one roof.
Heavy cuts are expected as boss David Ellison seeks to deliver $6 billion of cost savings at the combined group. The merger comes after months of legal disputes and regulatory scrutiny, marking a significant shift in the media landscape.
ParamountWarner Bros
Sources
Every quote below is verbatim from the article it is attributed to.
SourceReports the news
“Paramount Skydance Corp. closed its $110 billion acquisition of Warner Bros. Discovery Inc. on Tuesday, completing one of the biggest media mergers of all time after engaging in a bruising battle for control with Netflix Inc. and fending off antitrust lawsuits.”
Bloomberg — Paramount Closes Warner Merger in Historic Hollywood Deal“Heavy cuts expected as boss David Ellison seeks to deliver $6bn of cost savings at combined group to be known as Skydance”
FT — Paramount closes $111bn takeover of Warner Bros“Paramount has completed its $110 billion acquisition of Warner Bros. Discovery, forming a combined company known as Skydance.”
The Verge — Paramount and Warner Bros. Discovery complete $110 billion media megamerger“The Paramount and Warner Bros. merger has survived court challenges, public protests and regulatory scrutiny.”
npr — New Hollywood era begins with an epic mega merger between Paramount and Warner Bros.
SupportCorroborates it
“The merger of two of Hollywood's biggest movie studios comes after months of legal disputes and concern over competition.”
bbc — Paramount takes over Warner Bros in $110bn Hollywood merger“After a legal battle, Paramount has finally acquired Warner Bros.”
ny times — Paramount Closes Its Deal for Warner Bros. Discovery“Paramount completes $110 billion acquisition of Warner Bros. Discovery to form Skydance”
quartz — Paramount completes $110 billion acquisition of Warner Bros. Discovery to form Skydance“Skydance CEO David Ellison addressed employees after finalizing Paramount's WBD deal.”
business insider — 'We did it!': Read David Ellison's memo to employees after Paramount's WBD deal closed“New media empire will be known as Skydance, with CEO David Ellision calling it a 'historic day.'”
engadget — Controversial $110 billion mega-merger of Paramount and Warner Bros. finally closes“Paramount's WBD is final, putting David Ellison atop the new-look Skydance that aims to rival Disney and Netflix.”
business insider — David Ellison has finally bought Warner Bros. Discovery, remaking Hollywood
Earlier versions
- Oct 6, 1:25 PM — Paramount Closes Warner Bros Merger in Historic $110 Billion Deal (3/3)
- Oct 6, 1:35 PM — Paramount Closes Warner Bros. Merger in Historic $110 Billion Deal (5/5)
- Oct 6, 1:55 PM — Paramount Closes $110 Billion Acquisition of Warner Bros Discovery (7/7)