Paramount Skydance has officially completed its acquisition of Warner Bros.

Discovery in a deal worth $110bn, combining the two Hollywood studios to form a new company, Skydance Corporation. The deal combines Paramount and Warner Bros. Discovery catalogues, including the Lord of the Rings, DC Studios and Harry Potter franchises, along with networks such as HBO, CNN, CBS and TNT Sports. David Ellison, Chairman and CEO of Skydance, commented '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'.