Paramount closes its takeover of Warner Bros. Discovery

Paramount completed its takeover of Warner Bros. Discovery on Tuesday, a deal valued at about $110 billion including debt. The combined company is called Skydance and is led by David Ellison. It brings CNN, CBS, HBO Max, Paramount+ and the Warner Bros. and Paramount film studios under one roof. Democratic state attorneys general settled their lawsuit against the deal after winning concessions, including an editorial independence board for CNN.