Paramount Skydance completed its merger with Warner Bros. Discovery on Tuesday, creating a combined company called Skydance that includes CNN and CBS News. The company began trading on Wall Street Tuesday, Al Jazeera reported.
Hacker News and Ars Technica put the deal’s value at $111 billion, while Al Jazeera reported $110 billion. The merger brings together movie studios, streaming services and sports and programming assets. Justice Elena Kagan denied an emergency request Monday to stop the transaction, the Washington Examiner reported; it said she gave no reason.
The deal had faced litigation from California and 11 other states, according to Hacker News. Al Jazeera reported that the company agreed to create an independent editorial board for the two news networks. Ars Technica reported that HBO Max, Paramount+ and Discovery+ are to be combined into one service.