Paramount’s parent company Skydance completed its £61.31 billion ($81billion) takeover of Warner Bros. Discovery making a new entertainment giant encompassing Warner Bros HBO, DC, Cartoon Network and Adult Swim,  all under one roof, valued at  £85 billion ($112)billion including debts.

Skydance already owns HBO Max, Paramount+, Discovery+ and Pluto TV.

This merger effectively reduces Hollywood’s five major studios to four.