New Paramount-Warner Bros deal creates $55bn sports conglomerate

Paramount-Warner Bros. Discovery (WBD) will merge into a new company under Skydance, and it will bring a competitive sports rights portfolio with a lucrative valuation. After months of negotiations, failed deals and legal inquiries , Paramount parent company Skydance has completed the acquisition of Warner Bros. Discovery (WBD). The $110bn deal will see WBD and Paramount merge under combined company titled Skydance, bringing both WBD and Paramount’s film studios, television shows and streaming platforms together under one company.