Paramount completes $111bn acquisition of Warner Bros to form new media empire Skydance

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Guardian Business

Paramount completes $111bn acquisition of Warner Bros to form new media empire Skydance

David Ellison and ex-Mattel CEO Ynon Kreiz to oversee both film studios, HBO Max, CNN and CBS News as co-executives Paramount completed its $111bn acquisition of Warner Bros Discovery on Tuesday, consolidating some of the world’s most recognizable studios and news outlets after a bidding war with Netflix and months of legal turmoil. The new company, now called Skydance, will have David Ellison, the son of a billionai…