Paramount, now owned by Skydance, has completed its $81bn takeover of Warner Bros Discovery, bringing the two media giants together under a combined company after a long and contested deal process.
Key facts
- Paramount's takeover of Warner Bros Discovery closed on Tuesday.
- The deal is valued at $81bn (£61bn), according to Sky News.
- Paramount is owned by Skydance.
- The acquisition faced competing bids and an antitrust hurdle, according to CNBC.
Skydance-owned Paramount has completed its $81bn (£61bn) takeover of Warner Bros Discovery, bringing together two media giants under a single combined company, according to Sky News.
The deal closed on Tuesday following a drawn-out process. CNBC reported that Paramount had faced competing bids and an antitrust hurdle since its earliest attempts to acquire Warner Bros Discovery (WBD).
CNBC described the path to completion as hard-fought, publishing a timeline of key events that charted Paramount’s efforts from its initial approaches through to the finalised agreement.
The transaction marks the union of two of the entertainment industry’s major players, with the companies now operating under the combined business following the close.
The sources available confirm the headline terms of the agreement — its $81bn value, Skydance’s ownership of Paramount, and the deal’s completion on Tuesday — while noting that the process involved rival offers and regulatory scrutiny.
Why it matters
The merger consolidates two of the largest names in media and entertainment into one company, reshaping the competitive landscape for film, television and streaming. Deals of this scale can affect what content gets made, how it reaches audiences, and the balance of power among major studios.
Frequently asked questions
How much was the Paramount–Warner Bros Discovery deal worth?
According to Sky News, the takeover was valued at $81bn (£61bn).
Who owns Paramount?
Paramount is owned by Skydance, according to Sky News.
What obstacles did the deal face?
CNBC reported that Paramount faced competing bids and an antitrust hurdle during its attempts to take over Warner Bros Discovery.