Paramount and Warner Bros. Discovery complete $110 billion media megamerger

Paramount cleared its last major hurdle last month, as it settled with 12 states that sued to block the deal over antitrust concerns. Under the settlement, Skydance must release a minimum number of theatrical films over the next five years, starting with 30 in years one and two. It must also spend at least $300 million more on production in the US compared to what the companies spent last year combined.

“Today is a historic day, not just for Skydance but for our entire industry,” Ellison said in the announcement. “From the start, our ambition was to bring these two storied studios together and create a stronger competitor, with the talent, resources, and reach to tell great stories in every genre, on every platform, for audiences everywhere. Now that ambition is a reality.”