Paramount completes its takeover of Warner Bros to become one Hollywood giant known as Skydance

Reported by ABC News. The paragraphs below are the opening of that article, reproduced word for word — not a summary, and not the whole piece.

Skydance-owned Paramount has closed its $81 billion takeover of Warner Bros

CHICAGO -- It’s official: Skydance-owned Paramount closed its $81 billion takeover of Warner Bros. Discovery on Tuesday, ushering in a new Hollywood behemoth.

The merger brings two of America’s oldest moviemaking studios together under a new name : Skydance.

HBO Max, titles ranging from “Harry Potter” to “Sinners” and networks such as CNN now also find themselves under the same roof as Paramount+, CBS and the likes of “Top Gun” and “The Godfather.” All are under the helm of billionaire David Ellison and his new co-CEO Ynon Kreiz .

“Today is a historic day, not just for Skydance but for our entire industry,” Ellison said. “We couldn’t be more excited to get to work.”

Ellison’s Skydance bought Paramount for $8 billion last year before setting its sights on Warner. What followed erupted into a tumultuous, roughly yearlong fight over the storied Hollywood giant. Including billions of dollars in debt, the acquisition amounts to nearly $111 billion.