Paramount completes its acquisition of Warner Bros. Discovery, combining under the Skydance name. Multiple outlets report the deal closes on Tuesday, ending the process that began after the parties first agreed to the transaction in February. The takeover is described as a blockbuster deal valued at roughly $81 billion in one account and about $110–$111 billion in others, reflecting how the figures are framed in different reporting.
Following completion, the combined company begins trading on the New York Stock Exchange under the ticker “SKYD,” according to reports. BNN Bloomberg and other outlets say the transaction hands CEO David Ellison control of one of the world’s largest entertainment companies. Quartz adds that the new group brings together more than 200 million streaming subscribers and sets a target of about $6 billion in cost savings over three years, while reporting emphasizes the scale and consolidation of major studio and streaming assets.
Overall, outlets agree on the closure, the formation of Skydance, and the start of NYSE trading, while differing mainly in deal valuation figures and the emphasis placed on control, subscriber scale, and stated cost-savings targets.
