Paramount closes deal for Warner Bros. Discovery, creating media behemoth

The Warner Bros. Studio in Burbank, Calif., Feb. 27, 2026. (Mark Abramson/The New York Times) By BENJAMIN MULLIN Paramount closed its deal to acquire Warner Bros. Discovery earlier this week, putting tech scion David Ellison in control of a vast media empire that oversees many of Hollywood’s most valuable properties.The deal immediately catapults the combined company, now called Skydance, to the front rank of competitors alongside streaming titans like Netflix and YouTube, just behind giants…

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