Paramount completes $110bn Warner Bros Discovery deal, new parent named Skydance
Paramount's purchase of Warner Bros. Discovery is complete, with the parent company named Skydance. Paramount offered $31 a share in cash, valuing Warner's equity at $81 billion and the transaction at $110 billion including debt. David Ellison and Ynon Kreiz will serve as co-CEOs. Twelve states sued, and on September 30 Judge Araceli Martínez-Olguín approved a settlement. Paramount is issuing about $42.4 billion in bonds to fund the purchase.