MEDIA GIANT BORN: Paramount Completes $111B Merger, Creates Skydance Behemoth...

Paramount and Warner Bros. Discovery merged into a single company called Skydance on October 6, 2026, after a $111 billion deal cleared its final legal hurdles. The combination brings together two major Hollywood studios, the streaming services Paramount+ and HBO Max, broadcast networks CBS and CNN, and sports properties including CBS Sports and TNT Sports. A federal judge in California had initially ruled the merger would likely violate antitrust law, but approved a settlement in late September that imposed conditions on how the combined company can handle film distribution and cable channel licensing. A last-minute emergency appeal to the Supreme Court also failed, clearing the path for completion.