GoKawiilParamount Skydance completes $111 billion acquisition of Warner Bros. Discovery
Paramount Skydance has officially closed its merger with Warner Bros. Discovery, beating out a rival Netflix bid, and now controls HBO, CBS, CNN, TNT Sports and franchises like Harry Potter and Star Trek. The deal, backed partly by Saudi Arabia, Qatar and the UAE, pushes Skydance's debt close to $80 billion, and executives say the combined company plans to eventually merge HBO Max, Paramount+ and Discovery+ into one service.
GoKawiil's interpretation of the reporting above, not reported fact.
The merger marks one of the largest media consolidations in recent history, concentrating ownership of major news outlets like CNN and CBS alongside entertainment franchises under one company. Critics, including thousands of Hollywood figures and a dozen US states who opposed the deal, argue such consolidation could reduce competition, cost jobs, and raise prices for consumers, though the long-term effects remain to be seen. The involvement of Gulf-state financing may also raise questions about foreign influence over major American news organizations.
- Paramount Skydance now owns Warner Bros., HBO, CBS, CNN and TNT Sports after an $111 billion deal.
- Netflix lost out on its own bid for Warner Bros. despite earlier offering $82.7 billion.
- The merger drew opposition from Hollywood figures and 12 US states over consolidation concerns.
Source: techspot.com — Daniel Sims, 2026-10-07
Published there as: “Paramount now owns Warner Bros, HBO, CBS, and CNN, and Netflix is out”
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