Rome, Oct. 6 (LaPresse) – It is official: today, Paramount, owned by Skydance, completed its $81 billion acquisition of Warner Bros. Discovery, creating a new Hollywood giant. The merger brings together two of the oldest American film studios under a new name: Skydance. HBO Max, with titles ranging from ‘Harry Potter’ to ‘Sinners’, and networks such as CNN are now under the same roof as Paramount+, CBS and franchises such as ‘Top Gun’ and ‘The Godfather’. All under the leadership of billionaire David Ellison and his new co-CEO Ynon Kreiz. “Today is a historic day, not only for Skydance but for our entire industry,” Ellison said in a statement. “We couldn’t be more excited to get to work.” Including billions of dollars in debt, the acquisition of Warner reaches a total value of nearly $111 billion. In December, Warner had initially signed a production and streaming deal with Netflix. The Hollywood giants spent much of early 2026 in a heated battle over which proposal was the best; Warner executives repeatedly backed Netflix as their preferred partner, but the latter withdrew after Paramount ultimately raised its offer to acquire all of Warner to $31 per share. Warner and Paramount signed a reciprocal merger agreement at the end of February. Hollywood followed the battle over Warner’s future closely. From award ceremonies to online petitions, prominent celebrities and other creatives made their voices heard. In April, thousands of movie stars, screenwriters, directors and other professionals announced their “unequivocal opposition” to the Paramount-Warner merger. An open letter – signed, among others, by figures such as Jane Fonda, Mark Ruffalo, Denis Villeneuve and J.J. Abrams – warned of job cuts and “less choice for audiences in the United States and around the world.” Others expressed support for Paramount as Ellison reiterated his commitment to the world of cinema. At CinemaCon, the company presented a promotional short film, directed by Jon M. Chu and narrated by Tom Cruise; the video ended with the actor atop Paramount’s iconic water tower, saying: “The future is Paramount, and from here the future looks really bright.” Director James Cameron also firmly confirmed his support for Ellison.
Cinema, Paramount completes acquisition of Warner Bros: Hollywood giant is born
Rome, Oct. 6 (LaPresse) – It is official: today, Paramount, owned by Skydance, completed its $81 billion acquisition of Warner Bros. Discovery, creating a new Hollywood giant. The merger brings together two of the oldest American film studios under a new name: Skydance. HBO Max, with titles ranging from ‘Harry Potter’ to ‘Sinners’, and networks such as CNN are now under the same roof as Paramount+, CBS and franchises such as ‘Top Gun’ and ‘The Godfather’. All under the leadership of billionaire David Ellison and his new co-CEO Ynon Kreiz. “Today is a historic day, not only for Skydance but for our entire industry,” Ellison said in a statement. “We couldn’t be more excited to get to work.” Including billions of dollars in debt, the acquisition of Warner reaches a total value of nearly $111 billion. In December, Warner had initially signed a production and streaming deal with Netflix. The Hollywood giants spent much of early 2026 in a heated battle over which proposal was the best; Warner executives repeatedly backed Netflix as their preferred partner, but the latter withdrew after Paramount ultimately raised its offer to acquire all of Warner to $31 per share. Warner and Paramount signed a reciprocal merger agreement at the end of February. Hollywood followed the battle over Warner’s future closely. From award ceremonies to online petitions, prominent celebrities and other creatives made their voices heard. In April, thousands of movie stars, screenwriters, directors and other professionals announced their “unequivocal opposition” to the Paramount-Warner merger. An open letter – signed, among others, by figures such as Jane Fonda, Mark Ruffalo, Denis Villeneuve and J.J. Abrams – warned of job cuts and “less choice for audiences in the United States and around the world.” Others expressed support for Paramount as Ellison reiterated his commitment to the world of cinema. At CinemaCon, the company presented a promotional short film, directed by Jon M. Chu and narrated by Tom Cruise; the video ended with the actor atop Paramount’s iconic water tower, saying: “The future is Paramount, and from here the future looks really bright.” Director James Cameron also firmly confirmed his support for Ellison.