Paramount closes $110 billion Warner Bros. Discovery deal; combined company, renamed Skydance, owns CNN and CBS

Political Guyentist · October 7, 20261 min read

To end a lawsuit by 12 state attorneys general, the company agreed to an editorial-independence board for CNN and CBS News and to release 30 films a year for its first two years.

Warner shareholders get $31 per share; the roughly $110 billion value includes debt.
The company is targeting $6 billion in cost savings.
Ellison and co-CEO Ynon Kreiz told staff integration will bring "difficult decisions that affect our workforce."

What we’re less sure of2 of 6 claims

Medium
The company agreed to an editorial-independence board for CNN and CBS News and to release 30 films a year for its first two years to end a lawsuit by 12 state attorneys general.
Settlement terms appear tied to CNN's lawsuit/editorial-independence reporting and a social post on Ellison's assurance; the 12-state count and 30-film commitment are not confirmed by a primary filing in the sources list, and the story does not attribute them.
Medium
The company is targeting $6 billion in cost savings.
A company target or forecast reported by news outlets and likely drawn from company announcements, but the story does not attribute the figure to the company or any named source.