Paramount and Warner Bros. just became one giant called Skydance
Entertainment giants are finally shacking up, but the honeymoon phase is going to be dominated by a massive mountain of debt.
So, the long, messy bidding war is over. Paramount and Warner Bros. Discovery have officially fused into a single behemoth now going by Skydance. We are talking about everything from CNN and CBS to HBO Max and MTV all under one roof.
It was a chaotic year-long saga that involved Netflix almost grabbing the prize, until David Ellison stepped in with a mountain of cash from his dad, Oracle founder Larry Ellison. The kicker? The new company is starting its life with $80 billion in debt.
They’ve already brought in Ynon Kreiz to help run the show, and the industry is bracing for the inevitable round of mass layoffs to try and balance the books. It’s hard to see how merging massive, struggling media empires actually creates better stories, but at least the shareholders got their payday.
Nothing says "creative future" like starting a merger with enough debt to buy a small country.
Source: UPI
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