Paramount completes takeover of Warner Bros, creating media behemoth Skydance

Paramount completed its acquisition of Warner Bros Discover on Tuesday, after a bidding war against Netflix. The deal closed following federal approval of a settlement between Paramount and 12 US states that tried to block the transaction on antitrust grounds. Opponents in the movie industry warned of job cuts, while media groups said Warner-owned CNN's independence could be compromised.

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