Paramount completes Warner Bros takeover to form global media giant

By the Editorial Team · Sunday, October 11, 2026

Paramount has completed its acquisition of Warner Bros Discovery, forming a new global media company called Skydance under CEO David Ellison. The merger consolidates major film studios, news networks, and streaming services, with plans to combine Paramount+ and HBO Max to better compete in the digital streaming market.

Paramount has finalized its acquisition of Warner Bros Discovery, creating a major global media company under the leadership of David Ellison. The merger brings together two of Hollywood’s historic studios, Paramount Pictures and Warner Bros Pictures, along with a broad portfolio of television, news, and streaming assets.

The newly formed entity, rebranded as Skydance, now oversees a wide range of media properties, including the CBS News and CNN networks, as well as the HBO and CBS television brands. The consolidation represents a significant realignment in the entertainment industry, combining production studios, news outlets, and streaming platforms under a single corporate umbrella.

As part of the integration strategy, Ellison intends to merge Paramount+ and HBO Max, the two companies’ flagship streaming services, into one platform. This move aims to streamline the companies’ digital offerings and strengthen their position in an increasingly competitive streaming market.

The completion of this deal follows months of regulatory review and industry speculation, marking one of the most substantial media mergers in recent years. The combined resources and content libraries of the former Paramount and Warner Bros Discovery businesses are expected to provide the company with enhanced opportunities in film production, television programming, and news broadcasting globally.

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