Paramount Skydance has closed its approximately $110bn acquisition of Warner Bros Discovery, uniting CNN and CBS News under one owner. The deal, which combines HBO, CBS, Nickelodeon and other assets into the new Skydance Corporation, has drawn lawsuits, union challenges and warnings that editorial independence at the two news networks is at risk.

Oct 7, 2026

Economy

Paramount and Warner Bros Complete $110 Billion Merger, Bringing CNN and CBS News Under One Roof

Paramount Skydance has closed its $110 billion merger with Warner Bros Discovery, creating a new company called Skydance that unites CNN and CBS News under one corporate roof. The deal, delayed by lawsuits from unions and 12 state attorneys general, was settled after the company agreed to an independent editorial board, though press freedom experts question whether that will protect editorial independence.

Oct 6, 2026