Paramount-Warner Bros. Merger Cleared

Supreme Court allows Paramount to finalize its massive acquisition of Warner Bros. Discovery

Paramount has closed its deal to acquire Warner Bros. Discovery, putting the tech entrepreneur David Ellison in control of a media empire that includes many of Hollywood's most valuable properties. The combined company, now named Skydance, will compete with streaming giants like Netflix and YouTube. The acquisition was controversial due to a coalition of state attorneys general who sued to block the deal on antitrust grounds, which was settled after several concessions including establishment of an editorial independence board for CNN and promise to spend an additional $1.5 billion on movies over the next five years. Hollywood insiders have argued that the merger would result in job losses and stagnation in Hollywood.

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