Paramount Skydance Completes $81 Billion Warner Bros. Discovery Acquisition

US media and entertainment groups Paramount Skydance Corp and Warner Bros. Discovery have announced the completion of Paramount’s $81 billion acquisition of Warner Bros. Discovery.

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

The acquisition combines two major businesses in the American media and entertainment industry, placing their operations within a single corporate group.

The announcement marks the completion of the transaction, rather than an agreement awaiting final approval. Further details on the combined company’s leadership and integration plans were not provided in the summary.