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Tuesday 6 October
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Live story Business

Fitch Downgrades Paramount, Warner Bros. Discovery Credit Ratings as Merger Closes

Business
The brief

The firm cited "materially higher leverage" after the acquisition and "significant execution and integration risks," as well as uncertainty about achieving its $6 billion in cost savings thewrap.com/">TheWrap. Shares of the merged company, now called Skydance, began trading on the stock market Tuesday morning. Key points and original sources are listed below.

  • The firm cited "materially higher leverage" after the acquisition and "significant execution and integration risks," as well as uncertainty about achieving its $6 billion in cost savings thewrap.com/">TheWrap.S1
  • Shares of the merged company, now called Skydance, began trading on the stock market Tuesday morning.S2
  • New media empire will be known as Skydance, with CEO David Ellision calling it a 'historic day.'S3
  • The deal brings together two major streaming platforms, Paramount+ and HBO Max, along with networks including CBS, CNN, MTV, TBS, Comedy Central, and Food Network.S4
  • Η Paramount, που ανήκει στην Skydance, αναμένεται να ολοκληρώσει την εξαγορά της Warner Bros. Discovery έναντι 81 δισεκατομμυρίων δολαρίων την Τρίτη (06/10), ενώνοντας τις δυνάμεις της με δύο από τα παλαιότερα στούντιο του Χόλιγουντ στην Αμερική. Ο νέος γίγαντ...S5
  • Ellison will be the company's chairman and CEO while Ynon Kreiz, formerly the top executive at Mattel, is co-CEO.S6
  • The new company, which will be called Skydance, combines two of the five largest Hollywood film studios, uniting the homes of major franchises such as Harry Potter and Mission Impossible.S7
  • Paramount has completed its $110 billion acquisition of Warner Bros. Discovery, forming a combined company known as Skydance. The merger officially puts Paramount and WBD's film studios, along with major networks and brands like HBO, CBS News, and CNN, under o...S8
Timeline · newest first
8h Thewrap

Fitch Downgrades Paramount, Warner Bros. Discovery Credit Ratings as Merger Closes

The firm cited "materially higher leverage" after the acquisition and "significant execution and integration risks," as well as uncertainty about achieving its $6 billion in cost s…

8h Latimes

Paramount-Warner Bros. transaction closes

Shares of the merged company, now called Skydance, began trading on the stock market Tuesday morning.

8h Engadget

Controversial $110 billion mega-merger of Paramount and Warner Bros. finally closes

New media empire will be known as Skydance, with CEO David Ellision calling it a 'historic day.'

9h TechCrunch

Paramount closes historic Warner Bros. merger to form Skydance

The deal brings together two major streaming platforms, Paramount+ and HBO Max, along with networks including CBS, CNN, MTV, TBS, Comedy Central, and Food Network.

9h Sigmalive

«Κλείδωσε» η εξαγορά μαμούθ: Η Paramount αποκτά τη Warner Bros. Discovery

Η Paramount, που ανήκει στην Skydance, αναμένεται να ολοκληρώσει την εξαγορά της Warner Bros. Discovery έναντι 81 δισεκατομμυρίων δολαρίων την Τρίτη (06/10), ενώνοντας τις δυνάμεις…

9h Torontosun

Paramount closes $110B deal with Warner Bros. Discovery after months of wrangling

Ellison will be the company's chairman and CEO while Ynon Kreiz, formerly the top executive at Mattel, is co-CEO.

9h Feedburner:ndtvprofit Latest

Paramount Closes Warner Bros. Merger In Historic Hollywood Deal

The new company, which will be called Skydance, combines two of the five largest Hollywood film studios, uniting the homes of major franchises such as Harry Potter and Mission Impo…

9h Theverge

Paramount and Warner Bros. Discovery complete $110 billion media megamerger

Paramount has completed its $110 billion acquisition of Warner Bros. Discovery, forming a combined company known as Skydance. The merger officially puts Paramount and WBD's film st…

10h BBC

Paramount takes over Warner Bros in $110bn Hollywood merger

The merger of two of Hollywood's biggest movie studios comes after months of legal disputes and concern over competition.

10h The New York Times

Paramount Closes Its Deal for Warner Bros. Discovery

After a legal battle, Paramount has finally acquired Warner Bros. Discovery. The new company, Skydance, combines Hollywood studios, streaming services and cable networks.

10h Nypost

David Ellison’s $81B merger of Paramount and Warner Bros. Discovery officially completed

David Ellison’s $81 billion merger of Paramount and Warner Bros. Discovery officially closed Tuesday more than seven months after his winning bid, creating a new media behemoth kno…

10h Forbes

Skydance Is Here: Paramount Closes $110 Billion Warner Bros. Merger After Months Of Controversy

A settlement last week cleared the way for the controversial deal to go through.

10h Thewrap

Paramount and Warner Bros. Discovery’s $110 Billion Merger Closes

The Skydance conclusion comes after months of twists and turns, including a bidding war with Netflix and a legal fight with 12 state attorneys general thewrap.com/">TheWrap.

10h Indiewire

It’s Official: Paramount and Warner Bros. Discovery Merge in Skydance Mega-Merger

Enter the Skydance Era. The $111 billion transaction closes after first agreeing to a deal back in February.

10h Variety

Paramount-Warner Bros. $111 Billion Merger Officially Closes: ‘Today Is a Historic Day, Not Just for Skydance but for Our Entire Industry,’ David Ellison Says

It’s official: Paramount and Warner Bros. Discovery are now a single company — joined together as Skydance Corp., led by chairman and CEO David Ellison. The deal, valued at $111 bi…

10h Deadline

Skydancing At Last: $110B Merger Of Paramount And Warner Bros Discovery Officially Closes

The long-gestating merger of Paramount and Warner Bros. Discovery officially closed Tuesday, yielding a new major player in media. Shares in the combined company, Skydance, will st…

10h Financial Times

Debt in the spotlight as Paramount closes $111bn deal for Warner Bros

Heavy cuts expected as boss David Ellison seeks to deliver $6bn of cost savings at combined group to be known as Skydance

Developing

Fitch Downgrades Paramount, Warner Bros. Discovery Credit Ratings as Merger Closes

16 outlets 17 reports
The brief

The firm cited "materially higher leverage" after the acquisition and "significant execution and integration risks," as well as uncertainty about achieving its $6 billion in cost savings thewrap.com/">TheWrap. Shares of the merged company, now called Skydance, began trading on the stock market Tuesday morning. Key points and original sources are listed below.

  • The firm cited "materially higher leverage" after the acquisition and "significant execution and integration risks," as well as uncertainty about achieving its $6 billion in cost savings thewrap.com/">TheWrap.S1
  • Shares of the merged company, now called Skydance, began trading on the stock market Tuesday morning.S2
  • New media empire will be known as Skydance, with CEO David Ellision calling it a 'historic day.'S3
  • The deal brings together two major streaming platforms, Paramount+ and HBO Max, along with networks including CBS, CNN, MTV, TBS, Comedy Central, and Food Network.S4
  • Η Paramount, που ανήκει στην Skydance, αναμένεται να ολοκληρώσει την εξαγορά της Warner Bros. Discovery έναντι 81 δισεκατομμυρίων δολαρίων την Τρίτη (06/10), ενώνοντας τις δυνάμεις της με δύο από τα παλαιότερα στούντιο του Χόλιγουντ στην Αμερική. Ο νέος γίγαντ...S5
  • Ellison will be the company's chairman and CEO while Ynon Kreiz, formerly the top executive at Mattel, is co-CEO.S6
  • The new company, which will be called Skydance, combines two of the five largest Hollywood film studios, uniting the homes of major franchises such as Harry Potter and Mission Impossible.S7
  • Paramount has completed its $110 billion acquisition of Warner Bros. Discovery, forming a combined company known as Skydance. The merger officially puts Paramount and WBD's film studios, along with major networks and brands like HBO, CBS News, and CNN, under o...S8
Timeline · newest first

Sources · 8 citations

S1 ThewrapLead 2 reports · EN
S2 Latimes 1 report · EN
S3 Engadget 1 report · EN
S4 TechCrunch 1 report · EN
S5 Sigmalive 1 report · EN
S6 Torontosun 1 report · EN
S8 Theverge 1 report · EN
+8 more outlets