Paramount and Warner Bros. Discovery Complete $110 Billion Merger, Forming Skydance
publishers 30articles 33first reported 3 Oct, 00:31 UTCdeveloping since 3 Oct · 11 editions
Paramount announced on Tuesday that it has completed its $110 billion acquisition of Warner Bros. Discovery, creating a combined entertainment company named Skydance.
The merger brings Paramount+ and HBO Max under one owner alongside Discovery+. Skydance said the streaming platforms will “unify into a single service over time,” but it has not disclosed a timetable, name or pricing for the combined offering. HBO CEO Casey Bloys will oversee the merged streamers.
Skydance CEO David Ellison previously said combining Paramount+ and HBO Max would create a service with slightly more than 200 million direct-to-consumer subscribers. He has also said HBO will retain its identity and operate independently within the larger company.
The combined business includes film and television studios and networks such as CBS, CNN, MTV, TBS, Comedy Central and Food Network. Its properties include “The Lord of the Rings,” “Game of Thrones,” the DC Universe and “Yellowstone.” Skydance said the company will have nearly $70 billion in annual revenue.
The transaction closed after settlements with a coalition of U.S. states and a Hollywood writers’ union cleared legal challenges. Paramount prevailed in a bidding contest with Netflix, which had earlier agreed to buy Warner Bros.’ film and television studios and streaming business, excluding its cable networks. Skydance Class B shares will begin trading on the New York Stock Exchange under the ticker “SKYD.”
HOW THIS STORY WAS MADE
Written from 8 articles, 4 with the publisher's own text; 8 independent newsrooms once syndicated copies count as one; this version written 114 h after the record first saw the story; the editor revised it.
- Publishers
- 30
- Source articles
- 33
- Given to the writer
- 8, 4 with the article's own text
- Independent newsrooms
- 8
- This version written
- 114 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: Several specific details needed tighter attribution or correction to match the source wording. - "Paramount has completed its $110 billion acquisition of Warner Bros. Discovery, creating a combined entertainment company named Skydance, the company announced Tuesday.": The sources say Paramount acquired Warner Bros. Discovery or Warner Bros., but the combined company is called Skydance; the phrase 'Paramount has completed' is acceptable, but 'the company announced' is ambiguous and can be fixed by attributing the name and announcement to Paramount/Skydance more clearly. - "HBO CEO Casey Bloys will oversee the merged streaming operation.": The sources say Bloys will oversee the merged streamers or was appointed Co-Chair and Chief Content Officer of Skydance DTC, not that he will oversee a 'merged streaming operation.' - "Paramount prevailed in a bidding contest with Netflix, which had earlier agreed to buy parts of Warner Bros. Discovery.": TechCrunch says Paramount prevailed in a bidding battle with Netflix, which had previously agreed to buy Warner Bros.' film and television studios and streaming business, excluding cable networks; 'parts' is imprecise but not materially misleading, however the sentence omits that it was Warner Bros./WBD assets, and can be corrected to match the source. - "Skydance Class B shares began trading on the New York Stock Exchange under the ticker “SKYD.”": TechCrunch says the shares will begin trading today, not that they had already begun trading.
THE DRAFT AND THE CHANGES
Paramount and Warner Bros. Discovery Complete $110 Billion Merger, Forming Skydance
Paramount announced on Tuesday that it has completed its $110 billion acquisition of Warner Bros. Discovery, creating a combined entertainment company named Skydance, the company announced Tuesday.Skydance.
The merger brings Paramount+ and HBO Max under one owner alongside Discovery+. Skydance said the streaming platforms will “unify into a single service over time,” but it has not disclosed a timetable, name or pricing for the combined offering. HBO CEO Casey Bloys will oversee the merged streaming operation.streamers.
Skydance CEO David Ellison previously said combining Paramount+ and HBO Max would create a service with slightly more than 200 million direct-to-consumer subscribers. He has also said HBO will retain its identity and operate independently within the larger company.
The combined business includes film and television studios and networks such as CBS, CNN, MTV, TBS, Comedy Central and Food Network. Its properties include “The Lord of the Rings,” “Game of Thrones,” the DC Universe and “Yellowstone.” Skydance said the company will have nearly $70 billion in annual revenue.
The transaction closed after settlements with a coalition of U.S. states and a Hollywood writers’ union cleared legal challenges. Paramount prevailed in a bidding contest with Netflix, which had earlier agreed to buy parts of Warner Bros.Bros.’ Discovery.film and television studios and streaming business, excluding its cable networks. Skydance Class B shares beganwill begin trading on the New York Stock Exchange under the ticker “SKYD.”
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 →