Paramount and Warner Bros. Discovery operating under Skydance following completion of $111bn merger

Discovery operating under Skydance following completion of $111bn merger CEO David Ellison warns that merger will require the company to make "difficult decisions" including "changes and impacts" Paramount has completed its $111 billion acquisition of Warner Bros. Discovery, with both companies now operating under the name Skydance. And we will not allow a prolonged integration process to distract us from the reason we brought these companies together in the first place: which is to build the next-generation media and entertainment company." Skydance is targeting more than $6 billion in "synergy savings", which it said will "come primarily from technology, integration and procurement, marketing and real estate rationalisation." Earlier this summer, Skydance launched Paramount Game Studio by merging Skydance Interactive and Skydance New Media. With the merger complete, Skydance now owns Warner's intellectual property, including Avalanche Software (Hogwarts Legacy) and its publishing label Portkey Games, NetherRealm (Mortal Kombat), Rocksteady (Arkham), and TT Games (Lego).