BUSINESS
Paramount completes $81 billion takeover of Warner Bros. Discovery
Paramount has closed its acquisition of Warner Bros. Discovery for approximately $81 billion, creating a new media company called Skydance. The deal consolidates major Hollywood studios, streaming services, and cable networks under single ownership after a prolonged legal battle.
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The merger further concentrates power in an already consolidated entertainment industry dominated by a handful of major players, raising concerns about reduced competition and diversity in media.