Paramount and Warner Bros. Discovery complete $110 billion media megamerger

Skydance now controls some of the biggest film studios, TV networks, and streaming services.

by Emma Roth

Oct 6, 2026, 1:32 PM UTC

Image: The Verge

Emma Roth is a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Previously, she was a writer and editor at MUO.

Paramount has completed its $110 billion acquisition of Warner Bros. Discovery, forming a combined company known as Skydance. The merger officially puts Paramount and WBD’s film studios, along with major networks and brands like HBO, CBS News, and CNN, under one roof.

The road to the media megamerger has been a rocky one for Paramount, which secured an agreement in February after waging a months-long battle against Netflix for WBD. Since then, it has faced criticism from both lawmakers and Hollywood talent about the negative impact of media consolidation.

Paramount cleared its last major...

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