PARAMOUNT ACQUIRES WARNER BROS FOR $110 BILLION

LOS ANGELES, OCTOBER 6 /SRNA - RIA Novosti/ - Film company Paramount Skydance has announced that it has completed the acquisition of Warner Bros. Discovery for $110 billion.

"Paramount Skydance /formerly Paramount/ today completed the acquisition of Warner Bros. Discovery, creating a combined company called Skydance," the company said in a statement.

The company added that the completion of the process brings together two major film studios and their streaming services, two major news networks - CBS News and CNN, a large number of cable television channels, as well as portfolio of sports broadcasting rights.