Paramount and Warner Bros merge into one Hollywood giant

AI Summary

Paramount has completed an $81 billion purchase of Warner Bros. Discovery, creating a major Hollywood entertainment company under Skydance owner David Ellison. The deal’s hostile takeover bid prevailed over competing efforts from Netflix.

Paramount has completed an $81 billion purchase of Warner Bros. Discovery, as its owner Skydance creates a new entertainment behemoth. Billionaire David Ellison's hostile takeover bid defeated rival efforts from Netflix.