Paramount Skydance Completes $81 Billion Warner Bros. Discovery Takeover

US media and entertainment groups Paramount Skydance Corp and Warner Bros. Discovery have announced the completion of a deal under which Paramount acquired Warner Bros. Discovery for $81 billion.

The transaction brings the two groups together to form a new Hollywood giant under the Skydance name.

Structured as an acquisition of Warner Bros. Discovery by Paramount Skydance, the deal combines the companies within a single media and entertainment business.

The announcement marks the completion of the takeover rather than a preliminary agreement. The brief statement did not provide further details on the combined company’s leadership or integration plans.