There’s officially a new Hollywood colossus in town.⁠ ⁠ David Ellison’s #Paramount on Tuesday completed its $111 billion takeover of #WarnerBrosDiscovery, officially combining two legendary film studios, an enormous conglomeration of TV networks, two large streaming services and multiple news organizations into one player that the mogul hopes will let him compete with the likes of Disney and Netflix, to say nothing of Amazon, Apple and Google.⁠ ⁠ The new company is called #Skydance (the same name as the studio Ellison founded 20 years ago), and the executive team, led by Ellison and co-CEO Ynon Kreiz, will have a challenging task ahead of them: Integrating two behemoths, paying down more than $80 billion in debt, and transforming the company into a tech-entertainment hybrid in the process.⁠ ⁠ Read more at the link in bio.