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Paramount and Warner Bros. Discovery are finally one company. So what happens now?

Poynter · Tom Jones · last updated

The $111 billion deal brings CNN and CBS News under one roof, with layoffs, cost cuts and questions about editorial independence ahead

The laborious mega media deal that had to clear hurdles and dodge obstacles and arm-wrestle in court and face high-profile pushback from some of entertainment’s biggest names finally became official on Tuesday.

Paramount Skydance closed its $111 billion deal to take over Warner Bros. Discovery. The result is a new company called Skydance, which The Washington Post calls “a new megacorporation in Hollywood, streaming and news.” It will own Paramount and Warner Bros.’ film and TV studios, the Paramount+ and HBO Max streaming services and news giants CNN and CBS News.

 

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