Paramount completes the purchase of Warner Bros. and creates the entertainment giant Skydance

BarcelonaAfter months of negotiations, today Paramount has closed the deal to buy Warner Bros. and thus create a great entertainment giant that will be called Skydance. The purchase catapults the new company to the forefront of the entertainment and streaming sector, in direct competition with Netflix, Disney, and Amazon. "Today is a historic day not only for Skydance, but for the entire industry," stated David Ellison, owner of the new media group, in a statement.

In this way, one of the great soap operas of recent years within the entertainment industry comes to an end. To be able to keep Warner Bros., Ellison had to unseat Netflix, which was the first company to express its interest in buying the firm. The businessman also overcame the opposition of a lawsuit for possible monopoly presented by an association of United States prosecutors. Finally, the judicial conflict was resolved with an agreement that guarantees the editorial independence of CNN, which is part of Warner Bros., and the commitment to allocate 1.5 billion dollars to film production over five years.

After the purchase of Warner Bros., Ellison now has under his control a broad portfolio of film studios, streaming platforms –Paramount+, HBO Max, PlutoTV–, cable channels, and news networks, such as CNN and CBS News. He is also the owner of four of the most powerful franchises in the world of fiction: DC Universe (which has characters like Batman and Superman), Harry Potter, Star Trek and Mission Impossible.