Paramount closes $111bn takeover of Warner Bros

Paramount's $111 billion acquisition of Warner Bros is set to reshape the entertainment landscape, with significant cost-cutting measures expected to deliver $6 billion in savings under new boss David Ellison. The combined entity, to be named Skydance, will likely face scrutiny over potential layoffs and restructuring in its sprawling operations. This move underscores the aggressive consolidation trend in the media industry, highlighting the pressure studios face to streamline costs and enhance profitability in an increasingly competitive market.