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The Economic Times
The Economic Times

Inside Hollywood's biggest plot twist: How Paramount closed $110 billion Warner Bros deal to create Skydance

Paramount Skydance Warner Warner Bros David Ellison Hollywood CNN Warner Bros Discovery Netflix Discovery

Paramount Skydance on Tuesday completed its $110 billion takeover of Warner Bros Discovery, ending a 10-month fight that drew in Netflix, 12 US states, Hollywood's biggest names and, at the last minute, the US Supreme Court.

The merged company is now called Skydance. Its shares began trading on the New York Stock Exchange under the ticker "SKYD" on Tuesday, while Warner Bros Discovery shares stopped trading on Nasdaq. The company said Warner shareholders received just over $31 per share in cash.

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