Paramount completes Warner Bros. Discovery takeover, creating Skydance
publishers 37articles 45first reported 25 Sep, 09:49 UTCdeveloping since 25 Sep · 19 editions
Paramount Skydance completed its takeover of Warner Bros. Discovery on Tuesday, combining two century-old Hollywood studios in a deal valued at about $110 billion including assumed debt. The merged company, renamed Skydance Corporation, began trading on the New York Stock Exchange under the ticker SKYD.
David Ellison will serve as chairman and chief executive, while former Mattel chief Ynon Kreiz will oversee day-to-day operations as co-CEO. The company brings Paramount Pictures and Warner Bros. Pictures under one owner alongside CBS, CNN, HBO, MTV, Comedy Central, Nickelodeon, Food Network and other television properties. Its streaming services include Paramount+ and HBO Max, which Ellison says he plans to merge.
The enlarged portfolio includes franchises such as Harry Potter, Game of Thrones, DC, Mission: Impossible, Top Gun, Star Trek and Looney Tunes. Skydance has committed to releasing 30 theatrical films annually for the next several years under a legal settlement and says it is targeting about $6 billion in cost savings within three years.
The transaction followed a bidding contest with Netflix and cleared legal and regulatory challenges in the United States and Europe. It closed after a federal judge approved a settlement with 12 U.S. states that had challenged the merger on antitrust grounds.
South Korea’s Shinsegae Group said its property arm invested $1 billion alongside Ellison and RedBird Capital Partners. Shinsegae plans to explore using the combined company’s franchises in shopping complexes, memberships and its planned Starbay City theme park, as well as possible streaming and content partnerships.
HOW THIS STORY WAS MADE
Written from 8 articles, 7 with the publisher's own text; 7 independent newsrooms once syndicated copies count as one; this version written 138 h after the record first saw the story; the editor revised it.
- Publishers
- 37
- Source articles
- 45
- Given to the writer
- 8, 7 with the article's own text
- Independent newsrooms
- 7
- This version written
- 138 h after the record first saw the story
- Second model (editor)
- revised
- Publication gate
- passed
- Human review
- none
WHAT THE EDITOR DID
The second model checked the writer's draft against the same sources and changed it before publication. Struck words were in the draft; underlined words are its corrections.
WHAT IT FLAGGED editor revise: The story needs a title/detail correction and tighter wording on legal and streaming claims to match the sources. - "Paramount completes Warner Bros. Discovery takeover, forming Skydance": The sources say the merged company is called Skydance/Skydance Corporation, not that the takeover is forming Skydance. - "Its streaming services include Paramount+ and HBO Max, which Ellison has said he plans to combine.": The sources say Ellison plans to merge the subscription streaming platforms, not specifically that he plans to combine Paramount+ and HBO Max under this phrasing; this can be corrected to match DW. - "The transaction followed a bidding contest with Netflix and cleared regulatory reviews in the United States and Europe.": The sources say the deal cleared legal and regulatory challenges in the U.S. and Europe, not simply regulatory reviews in both jurisdictions; in the U.S. it also followed lawsuits and a court-approved settlement.
THE DRAFT AND THE CHANGES
Paramount completes Warner Bros. Discovery takeover, formingcreating Skydance
Paramount Skydance completed its takeover of Warner Bros. Discovery on Tuesday, combining two century-old Hollywood studios in a deal valued at about $110 billion including assumed debt. The merged company, renamed Skydance Corporation, began trading on the New York Stock Exchange under the ticker SKYD.
David Ellison will serve as chairman and chief executive, while former Mattel chief Ynon Kreiz will oversee day-to-day operations as co-CEO. The company brings Paramount Pictures and Warner Bros. Pictures under one owner alongside CBS, CNN, HBO, MTV, Comedy Central, Nickelodeon, Food Network and other television properties. Its streaming services include Paramount+ and HBO Max, which Ellison has saidsays he plans to combine.merge.
The enlarged portfolio includes franchises such as Harry Potter, Game of Thrones, DC, Mission: Impossible, Top Gun, Star Trek and Looney Tunes. Skydance has committed to releasing 30 theatrical films annually for the next several years under a legal settlement and says it is targeting about $6 billion in cost savings within three years.
The transaction followed a bidding contest with Netflix and cleared legal and regulatory reviewschallenges in the United States and Europe. It closed after a federal judge approved a settlement with 12 U.S. states that had challenged the merger on antitrust grounds.
South Korea’s Shinsegae Group said its property arm invested $1 billion alongside Ellison and RedBird Capital Partners. Shinsegae plans to explore using the combined company’s franchises in shopping complexes, memberships and its planned Starbay City theme park, as well as possible streaming and content partnerships.
Written by a language model from the sources above, then checked by a second model that may only cut, attribute or correct. How it works →