Paramount-Warner Bros. transaction closes

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Set us as preferred David Ellison emerged with his prized Hollywood juggernaut Tuesday as the merger of Paramount Skydance and Warner Bros.Discovery officially closed.The $111-billion transaction culminated a year-long battle by the 43-year-old tech scion to add Warner Bros.

Discovery to his family’s growing portfolio.The Ellison family now controls one of the largest traditional media companies ever formed, with HBO, CNN, CBS, Comedy Central, TBS, Food Network, two traditional Hollywood studios and two major streaming services.Shares of the new company began trading under the ticker SKYD, a switch from last week when the company went by PSKY for Paramount Skydance.Ellison has called the merged company, Skydance, the name he selected two decades ago when he began building his Hollywood studio.This is a developing story.The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.

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Follow UsMeg James is a senior entertainment industry writer for the Los Angeles Times.She was the lead reporter for The Times’ coverage of the deadly “Rust” shooting on a New Mexico film set in 2021, work recognized by the Pulitzer Prize board as a finalist in breaking news.

A member of the Company Town team for two decades, James specializes in covering television, corporate media and investigative projects.She previously wrote for the Miami Herald and the Palm Beach Post.

A native of Wyoming, she is a graduate of the University of Colorado and Columbia University.Hollywood Inc.

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