The merger of Paramount and Warner Bros has closed, placing CNN and CBS News under common ownership, according to Al Jazeera. The combined company, called Skydance, began trading on Wall Street on Tuesday.
Key facts
- The Paramount-Warner Bros merger has closed, according to Al Jazeera.
- CNN and CBS News are now under common corporate ownership.
- The newly combined company is called Skydance.
- Skydance began trading on Wall Street on Tuesday.
The merger of Paramount and Warner Bros has closed, bringing two major American news operations, CNN and CBS News, under common corporate ownership, according to Al Jazeera.
The newly combined company is called Skydance, which began trading on Wall Street on Tuesday. The start of trading signals that the transaction has been finalised and that Skydance is now operating as the combined entity.
Further details about the structure and future operations of the combined company were not specified in the available reporting.
Why it matters
Bringing CNN and CBS News under a single owner concentrates two prominent American news brands within one company, a notable change in the country's media ownership landscape.
Frequently asked questions
What is the new combined company called?
The newly combined company is called Skydance, according to Al Jazeera.
Which news organizations are now under one owner?
CNN and CBS News are now under the same corporate roof following the close of the Paramount-Warner Bros merger.
When did Skydance begin trading on Wall Street?
Skydance began trading on Wall Street on Tuesday.