Hollywood giant born as Paramount completes $110 billion Warner Bros. Discovery takeover

A new Hollywood giant has been created after Paramount Skydance completed its $ 110 billion takeover of Warner Bros. Discovery.

The deal brings major film, television and streaming brands including Warner Bros., Paramount, CNN, CBS and HBO Max under one company.

The combined business will be known as Skydance and led by David Ellison, the founder of Skydance Media.

The company is targeting billions of dollars in savings as it competes for audiences across streaming and traditional media.