Paramount Skydance completes $111B Warner Bros acquisition, forms Skydance

Paramount Skydance finalized its $111 billion acquisition of Warner Bros Discovery, creating a new media giant named Skydance. The deal follows a bidding war with Netflix, which withdrew, and faces a lawsuit from twelve US states led by California seeking to block it. The completion marks a major consolidation in the media industry, with antitrust concerns unresolved.