Huge merger in Hollywood: Paramount and Warner Bros. have become a single media group
Paramount has completed the acquisition of Skydance's rival, Warner Bros. Discovery, for nearly $110 billion. The combined media group, which will be named Skydance, will control the CNN television channel along with CBS.
A major merger has taken place in Hollywood: Paramount and Warner Bros. have now become a single media group. Paramount announced the completion of the deal on October 6. This is considered one of the largest mergers in the history of the US media industry.
The final obstacle to completing the deal was removed a few days ago: a judge in California approved the company's agreement with 12 states.
These states had opposed the deal, fearing that the merger of the two major film studios could restrict competition. Under the agreement, Paramount has committed to making additional investments in film production within the United States.
Now, the new media group faces the task of integrating the companies' operations and paying off tens of billions of dollars in debt. Concerns are being voiced in Hollywood about the potential for mass job cuts following the deal.
The political consequences of the merger, particularly its impact on the editorial independence of CNN, are also causing debate.
Paramount has been controlled by the family of tech billionaire Larry Ellison since 2025. Ellison, the founder of Oracle Corporation, has openly supported US President Donald Trump on several occasions and funded his election campaign.
Paramount previously owned the CBS television network. Trump, on the other hand, has repeatedly accused CNN of spreading fake news about him and his administration.
Therefore, the discussions surrounding the deal are not limited solely to competition in the film market. The concentration of major news channels under the control of a single owner and the issue of maintaining their editorial independence are also in the spotlight.