Paramount completes takeover of Warner Bros, creating media behemoth Skydance

Paramount completes takeover of Warner Bros, creating media behemoth Skydance

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.

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