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Paramount and Warner Bros. Discovery's pending merger will result in a new parent company named Skydance, according to a statement from Skydance leadership. The company says Paramount and Warner Bros. brand identities will remain intact and continue operating under their own names, with Skydance serving as the corporate umbrella.
Mattel Inc. is bringing in a new chief executive, while Condé Nast and the newly merged Paramount-Warner Bros. are also undergoing leadership changes this week. Each company's incoming leadership is reportedly tied to experience in streaming media.
A federal judge approved Paramount's consent decree settling an antitrust lawsuit brought by 12 states over its proposed acquisition of Warner Bros. Discovery, removing the last major legal obstacle to the $81 billion deal. The merger is expected to close on October 6, and Paramount announced Mattel CEO Ynon Kreiz will join as co-CEO alongside David Ellison once the deal completes.
Paramount has appointed former Mattel chairman and CEO Ynon Kreiz as co-CEO, working alongside chairman and CEO David Ellison, ahead of the close of its $110 billion merger with Warner Bros. Discovery. Ellison will oversee long-term strategy, creative direction and partnerships, while Kreiz handles day-to-day management and integration of the combined companies; Kreiz starts October 5th. Separately, a judge approved Paramount's settlement with states that had been blocking the merger, and streaming chief Cindy Holland announced her departure.
A coalition including Free Press, the Freedom of the Press Foundation and the Committee for the First Amendment filed a court brief arguing that California's settlement with Paramount Skydance over its $111 billion merger with Warner Bros. Discovery offers the public 'virtually nothing.' The filing asks Judge Araceli Martínez-Olguín, who had earlier found the deal likely to substantially reduce competition, to reject the settlement that California Attorney General Rob Bonta and eleven other states agreed to this week. The League of United Latin American Citizens raised similar objections in a separate filing.
Paramount's Star Trek: Strange New Worlds wrapped up its fourth season with an episode centered on a time-related twist, offering glimpses of the show's future direction. The finale caps a season for the prequel series set aboard the USS Enterprise before the original Star Trek timeline.
Paramount Skydance is preparing to merge with Warner Bros. Discovery, placing CEO David Ellison in control of major entertainment brands including HBO, HBO Max and Paramount+. Both companies have undergone repeated name and platform changes in recent years, from Warner Media to WBD and from Paramount+ rebrands, reflecting ongoing restructuring across the industry.
Paramount has settled lawsuits from 12 states that sought to block its $110 billion merger with Warner Bros. Discovery. As part of the settlement, the combined company must spend at least $300 million more on US-produced film and TV projects and release a minimum of 30 movies per year for two years, rising to 32 annually for three more years, or pay $30 million per film shortfall into union healthcare and retirement funds.
Several states have agreed to settle an antitrust lawsuit that sought to block the combination of Paramount Skydance and Warner Bros. Discovery, removing the last major legal obstacle to the deal. Shares of both companies rose sharply following news of the settlement, as investors now expect the merger to move forward quickly.
Paramount Skydance reached a settlement with state attorneys general who had sued to block its $110 billion merger with Warner Bros. Discovery, avoiding a trial that was scheduled for next spring. As part of the deal, Paramount agreed to boost domestic production, follow certain theatrical release rules, and create a new board to oversee editorial independence at CBS News and CNN. CEO David Ellison told staff the company now expects to close the merger within about two weeks.
Paramount has reached a settlement resolving the antitrust lawsuit filed by 12 state attorneys general that had stalled its $111 billion acquisition of Warner Bros. Discovery. The consent decree requires an editorial oversight board for CNN and CBS News, annual theatrical releases with added domestic production spending, and separate sale of cable bundles to distributors, but does not force Paramount to sell off its networks or studios. The agreement still needs court approval before the merger can proceed.
Paramount Skydance has reached a settlement that clears the way for its takeover of Warner Bros, ending a prolonged period of negotiation and legal wrangling. The agreement resolves outstanding disputes between the two parties and allows the merger process to move forward.