Paramount completes $110bn takeover of Warner Bros. Discovery
Paramount has completed its $110 billion takeover of Warner Bros. Discovery, creating one of the world’s largest entertainment groups.
The deal brings Warner Bros. Discovery’s major businesses and brands under Paramount’s ownership, including Warner Bros., HBO, HBO Max, CNN, Discovery and the Warner Bros. film and television studios.
The combined company will operate as Skydance, with David Ellison serving as chairman and CEO and former Mattel chief executive Ynon Kreiz as co-CEO.
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The enlarged group also brings together major franchises including ‘Harry Potter’, ‘Batman’, ‘Mission: Impossible’ and ‘Top Gun’, alongside Paramount+ and HBO Max.
The transaction formally closed on 6 October 2026, marking a major consolidation of Hollywood’s film, television and streaming businesses.
