Paramount closes Warner Bros deal as Skydance and plans a single streamer
Skydance starts life with HBO, CNN, two studios and $82bn of debt. Its leaders promise AI tools for creatives, 30 films a year and difficult decisions on jobs.
Via TNW | Merge-and-acquisition
Paramount has completed its purchase of Warner Bros. Discovery and renamed the combined company Skydance. The company announced the close on Tuesday, and its shares now trade on the New York Stock Exchange as SKYD. Warner Bros. Discovery shareholders received about $31.02 a share in cash.
Skydance owns two major film studios, Paramount Pictures and Warner Bros. It also owns HBO Max, Paramount+, CBS, HBO, CNN and CBS News. Its sports arms are CBS Sports and TNT Sports.
One streaming…
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