Skydance Closes $110 Billion Paramount-Warner Bros. Deal as Kagan Rejects Last-Minute Halt
Updated
Updated · Yahoo Finance · Oct 6
Skydance Closes $110 Billion Paramount-Warner Bros. Deal as Kagan Rejects Last-Minute Halt
3 articles · Updated · Yahoo Finance · Oct 6
Summary
$110 billion Paramount-Warner Bros. Discovery merger closed Tuesday after Justice Elena Kagan denied a final bid to block it, formally creating Skydance.
Skydance said HBO Max, Paramount+ and its other direct-to-consumer services will be combined into a single streaming platform over time.
SKYD shares began trading Tuesday and finished down at $9.53, as the new company installed David Ellison and Ynon Kreiz as co-CEOs to split strategy and day-to-day integration.
The combined group now spans franchises from Harry Potter to SpongeBob and networks including CBS, CNN, TNT, MTV and Nickelodeon, capping a yearlong fight that ended with Paramount beating Netflix for Warner Bros.