Paramount and Warner Bros. to create Skydance

David Ellison announced that the merged company of Paramount and Warner Bros. Discovery will be named Skydance, aiming to preserve the distinct identities and legacies of both studios. The deal, valued at $111 billion, is close to completion after receiving regulatory approval and ending an antitrust lawsuit. The merger will incorporate assets including HBO, CNN, TBS, and the Warner Bros. film and television libraries, along with cost-cutting plans and leadership changes, including bringing in Ynon Kreiz to run operations and elevating HBO’s Casey Bloys for streaming services.

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