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FRANCE 24

Paramount completes takeover of Warner Bros, creating media behemoth Skydance

David Ellison, CEO of Paramount Skydance, speaks during the Paramount Pictures presentation at CinemaCon on April 16, 2026, at Caesars Palace in Las Vegas.
File photo of David Ellison, CEO of Paramount Skydance, taken during a presentation in Las Vegas on April 16, 2026. © Chris Pizzello, AP

Paramount completed its acquisition of Warner Bros Discover on Tuesday, after a bidding war against Netflix. The deal closed following federal approval of a settlement between Paramount and 12 US states that tried to block the transaction on antitrust grounds. Opponents in the movie industry warned of job cuts, while media groups said Warner-owned CNN's independence could be compromised.

Paramount completed on Tuesday its takeover of Warner Bros Discovery, uniting two of Hollywood's most storied studios in a media empire spanning television, news and cinema under the control of David Ellison.

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