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00:02Skydance-owned Paramount closed its $81 billion takeover of Warner Bros. Discovery on Tuesday,
00:07bringing the two Hollywood studios together under the Skydance name, according to the
00:11Associated Press. The deal is worth nearly $111 billion, including debt. The combined
00:17company brings HBO Max, CNN, and Warner franchises such as Harry Potter, together with Paramount
00:23Plus, CBS, and titles including Top Gun and The Godfather. David Ellison and Inan Kreitz
00:29will serve as co-CEOs. The merger followed a year-long bidding fight that included Netflix
00:33and cleared regulatory hurdles over the summer. Critics have raised concerns about competition,
00:38jobs, and editorial independence at CNN. Skydance has agreed to establish a news editorial independence
00:43board and increase U.S. film production over five years.
00:47For all things money, visit Benzinga.com.
