Harry Potter, Batman and Star Trek now share the same Hollywood empire, here’s what it controls

• Paramount and Warner Bros. Discovery merge under Skydance in a deal valued at 110 billion dollars.

• David Ellison takes charge of the new conglomerate alongside Ynon Kreiz after outbidding Netflix.

• The deal unites legendary franchises including Harry Potter, Batman, Star Trek, and Mission Impossible.

Paramount has completed its acquisition of Warner Bros. Discovery in a massive transaction valued at 81 billion dollars, reaching nearly 110 billion dollars when factoring in corporate debt. The historic deal gives birth to a new media powerhouse operating under the Skydance brand. The merger combines two of Hollywood’s most legendary film studios, bringing streaming platforms, television networks and some of the world’s most lucrative entertainment franchises under unified management.

 

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David Ellison to lead the entertainment powerhouse

Tech entrepreneur David Ellison will lead the combined enterprise after emerging victorious over Netflix in a competitive bidding process that lasted nearly a year. Ellison will serve alongside Ynon Kreiz as co-CEO, with Kreiz managing daily operations and integration efforts while David Zaslav steps down from Warner. The unified entity now controls Paramount Pictures, Warner Bros., and Skydance studios, alongside major streaming services including HBO Max, Paramount+, and Pluto TV.

A combined portfolio of top networks and franchises

The strategic merger brings major television networks under one corporate umbrella, including CBS News, CNN, HBO, Nickelodeon, Comedy Central, TNT, TBS, and MTV. The combined creative catalog secures control over blockbuster global intellectual properties such as Batman, Superman, Harry Potter, Star Trek, and Mission Impossible. To resolve regulatory antitrust concerns, the company committed to establishing an independent five member journalistic board for CNN and CBS News, alongside pledging 300 million dollars in additional annual film production spending within the United States.

 

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Financial targets and theatrical commitments

The new industry giant faces the task of managing 82 billion dollars in financial obligations amidst ongoing shifts in traditional cable and streaming business models. Executive leadership aims to generate 6 billion dollars in cost synergies over the next three years through technological consolidation and streamlined corporate operations. Furthermore, the final agreement requires the company to release a minimum of 30 feature films theatrically per year during its first two years, increasing to 32 annual theatrical releases over the following three years.