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$110B deal creates Sky Dance
Paramount has completed a $110 billion acquisition of Warner Bros. Discovery to establish a new entertainment entity called "Sky Dance." The company's goal is to combine film, television, and news productions, such as the "Mission Impossible" and "Harry Potter" series, along with global networks and streaming services, in response to declining subscriptions and rising costs. CEO David Ellison is leading the strategy, with plans to achieve savings of up to $6 billion, integrate "HBO Max" and "Paramount+," and produce at least 30 films annually in the first two years, despite challenges posed by approximately $80 billion in debt.
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