Paramount has finalised its takeover of Warner Bros, uniting two of the world’s biggest film and television producers under a media empire named Skydance.
The combined company, controlled by media tycoon and Trump ally David Ellison, now comprises of Paramount Pictures, Warner Bros Pictures, the CBS News and CNN networks, and the HBO and CBS television brands.
David Ellison has spruiked the merger as a ‘historic’ moment, but critics fear the move will lead to job cuts and hamper competition in the industry.
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