Warner Bros.-Paramount merger closes, company rebranded as Skydance

The Warner Bros. Discovery and Paramount merger has officially closed, with the combined company now called Skydance under David Ellison. It promises $6 billion in savings over three years, but no growth plan has been outlined and debt stands at about $80 billion.

• Warner Bros. Discovery and Paramount merger closed under the Skydance name
• Company pledges $6 billion in savings over three years, partly via layoffs
• Combined company carries roughly $80 billion in debt
• Paramount and HBO streaming services may eventually be merged