Skydance announced as $111 billion media conglomerate combining Paramount and Warner Bros.

A new media conglomerate named Skydance was announced, formed from the combination of Paramount Pictures and Warner Bros. Pictures. The merger was valued at $111 billion and successfully passed legal and regulatory challenges in both the U.S. and Europe. David Ellison stated that the ambition was to create a stronger competitor with the resources to tell stories across all platforms.

Skydance now combines two film studios that have both been influential in global culture for over a century. The new entity is controlled by Ellison and includes investors from Saudi Arabia, Qatar, and other Middle Eastern countries. Ellison also now controls the combined companies' streaming services, including Paramount+ and HBO Max.