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Paramount Closes Merger With Warner Bros. Discovery to Form Skydance

After a legal battle, the two Hollywood giants have become one. But the new company is saddled with debt, and in a memo to employees, its leaders hinted at cost cuts.

Β© Mark Abramson for The New York Times

The new company, called Skydance, will combine Warner Bros. and Paramount Pictures, as well as news networks and streaming services.

Paramount’s Streaming Chief Leaves Ahead of Warner Bros. Deal

Cindy Holland’s departure clears the way for Casey Bloys, the HBO chairman, to have a leading role in the combined company’s streaming services.

Β© Jamie Mccarthy/Getty Images

Cindy Holland, Paramount’s streaming chief.
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