Paramount closes $110 billion mega Warner Bros takeover; creates Hollywood powerhouse Skydance

Paramount Skydance has completed its $110 billion takeover of Warner Bros Discovery, creating a major Hollywood entertainment company spanning film, television, streaming and news. The combined entity, named Skydance, will trade as SKYD on the New York Stock Exchange. CEO David Ellison will oversee strategy as the companies pursue $6 billion in cost savings.