Hollywood just witnessed a seismic shift: Paramount and Warner Bros Discovery have officially completed their blockbuster $110 billion merger, creating Skydance—a media giant that now commands some of the world's most beloved studios and franchises under one roof.

The deal, which closed on Tuesday, places CEO David Ellison at the helm of an entertainment juggernaut combining iconic studios behind everything from Marvel films to HBO's prestige dramas. This merger represents a major consolidation in an industry navigating streaming wars and changing audience habits, bringing together complementary assets to compete at an unprecedented scale. Read the full story →

Today's takeaway: This transformative merger signals Hollywood's continued evolution toward fewer, more powerful entertainment conglomerates positioned to dominate global audiences.