Skydance has completed its acquisition of Warner Bros. Discovery, bringing CNN under its umbrella. A giant entertainment company centered on two of Hollywood's major studios is expected to emerge.
Skydance, a major U.S. media company, announced on the 6th that it had completed its acquisition of rival Warner Bros. Discovery. As a result, Skydance will become a company that owns CBS.
Warner Bros. Discovery's best-known properties include the Harry Potter series, and it owned the news channel CNN. The acquisition is expected to integrate the two companies' assets and businesses.
The enterprise value is estimated at approximately ¥17 trillion, creating a major entertainment company with a streaming service serving approximately 200 million subscribers. The company plans to produce more than 30 films and 180 television series annually.
Skydance says it will streamline its technology platform and administrative functions, generating earnings improvement of more than ¥930 billion within 3 years.