Paramount Skydance has completed its acquisition of Warner Bros. Discovery in a transaction valued at approximately $110 billion including debt, or around ¥17 trillion. The newly formed Skydance will bring major film studios and streaming and television assets under its umbrella.
Paramount Skydance announced on the 6th that it had completed its acquisition of Warner Bros. Discovery. The acquisition was valued at approximately $110 billion including debt, making it the largest-scale merger in the history of the U.S. media industry. The transaction has created the giant media company “Skydance,” which brings 2 major Hollywood film studios, video streaming services and television networks under its umbrella.
David Ellison, Paramount’s CEO, will lead the new company, while Inon Kreiz, formerly of Mattel, will serve as co-CEO. In addition to franchises including the films “Harry Potter” and “Top Gun,” news-related assets such as CNN and CBS News are also expected to come under its umbrella.
In a statement, Skydance indicated plans to produce at least 30 films and more than 180 television programs and series annually, as well as to integrate Paramount’s and Warner Bros. Discovery’s video streaming services in the future. The company reiterated its policy of expanding consumer choice in the entertainment sector.
The merger has attracted attention as a symbol of industry consolidation. Developments in the video streaming market and the integrated operation of news distribution and reporting divisions are expected to be key areas of focus.