Judge allows Paramount to close $110 billion takeover of Warner Bros. Discovery

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1. 2h ago

   Judge Approves Paramount Takeover of Warner Bros. Discovery

   A federal judge approved a legal settlement with state attorneys general, clearing the final major hurdle for Paramount to close its massive acquisition of Warner Bros. Discovery. The $110 billion mega-merger unites prominent media assets including CBS News, CNN, HBO Max, Paramount+, and the historic film studios Warner Bros. and Paramount Pictures. Paramount Skydance CEO David Ellison announced that upon completion, the combined enterprise will be named Skydance and trade under the ticker SKYD, though Paramount and Warner Bros. will continue operating as distinct studios.

   Why it matters

   The judicial approval follows a legal challenge from state attorneys general who initially sued over the massive entertainment industry consolidation. The transaction represents a landmark alignment between Hollywood studios and government regulatory oversight. The newly structured corporate entity will wield immense influence across television, streaming, and cinematic distribution.

   What is confirmed

   • A federal judge approved a legal settlement allowing Paramount to close its takeover of Warner Bros. Discovery.
   • The transaction value is reported at $110 billion by multiple outlets, though one source notes an $81 billion figure from state legal filings.
   • The combined company will be named Skydance and will trade under the ticker SKYD.
   • Paramount and Warner Bros. will remain as distinct studios after the merger closes.
   • The merger brings together assets including CBS News, CNN, HBO Max, Paramount+, Warner Bros., and Paramount Pictures.
   • Mattel's Kreiz was named co-CEO of the combined entity.

   Still unconfirmed

   • Actor Mark Ruffalo criticized the approved merger as a bad deal for the country and an incredibly disappointing outcome.

   What to watch next

   • The official closing of the merger next week.
   • Trading of the combined company under the ticker SKYD.
   Sources used for this update (19)

   1. Variety — Paramount-Warner Bros. Merger Set to Close Next Week After Judge OKs Settlement With State AGs
   2. CNN — Paramount-Warner Bros. merger moves forward after judge approves settlement | CNN Business
   3. Deadline — Paramount-WBD Merger Is A Go As Judge Approves Legal Settlement, Last Hurdle To Close
   4. Reuters — US judge allows Paramount to close Warner Bros acquisition
   5. WSJ — Paramount Settlement of Antitrust Case Approved by Judge
   6. NBC News — Judge allows Paramount to close $110 billion takeover of Warner Bros. Discovery
   7. Yahoo — Mark Ruffalo Slams Approved ParaBros Merger: “Bad Deal For This Country”
   8. yahoo.com — Mark Ruffalo Bemoans Paramount Getting Approval for Warner Bros. Merger: ‘An Incredibly Disappointing Outcome’
   9. Anchorage Daily News — Judge approves Paramount’s settlement with states over Warner buyout, allowing merger to soon close
   10. Warner Bros. Discovery - Investor Relations — Paramount Skydance and Warner Bros. Discovery Announce Anticipated Closing Date of Paramount Merger
   11. Variety — Paramount Deal and U.S. Film Incentive Reflect Hollywood’s Deepening Ties to Government
   12. foxbusiness.com — Mark Ruffalo blasts Paramount-Warner Bros. merger after judge clears $110B Hollywood deal
   confidence 95%