New York, 6 October 2026 – Paramount has completed its US$81 billion acquisition of Warner Bros. Discovery, combining two major American film and television groups under the Skydance name after a prolonged bidding contest, regulatory challenge and financing process. The closing transfers the investment debate from transaction certainty to whether management can integrate a highly leveraged global entertainment portfolio without weakening creative output or customer value.
Warner Bros. Discovery shareholders received approximately US$31.02 in cash for each share after a small timing adjustment to the agreed consideration. The transaction followed shareholder approval and the resolution of an antitrust lawsuit brought by 12 US states. Skydance shares began trading under a new ticker as the combined group brought Paramount, CBS, HBO, Warner Bros., CNN, Discovery and extensive film and television libraries into one corporate structure.
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