$WBD

Paramount Skydance acquired Warner Bros. Discovery for $111B, merging Paramount+ and HBO Max. The deal includes a settlement requiring 30+ movies/year, $1.5B in domestic filming, and a $6B fund for laid-off workers. Critics warn of potential quality decline, franchise overuse, and political influence on CNN and CBS.

Warner Bros. Discovery's merger with Paramount Skydance led to $5.39 in additional interest per note. Each note now includes 0.7185 share of AT&T and 0.061382 share of Charter Communications stock. CenterPoint Energy issued the update, with CNP shares trading on NYSE.

CNN launches its All Access premium subscription service in Canada on Oct. 20, offering live streaming and content access for CAN$7.99/month. The move targets cord-cutters and follows a similar U.S. launch. CEO Mark Thompson aims to offset declining cable TV revenue with digital subscriptions. CNN is now part of Warner Bros. Discovery, acquired by Skydance.

Skydance, formed from the Paramount-Warner Bros. Discovery merger, raised Discovery+ prices: ad-supported tier to $6.99/month, ad-free to $11.99/month. Existing subscribers get 30-day notice. This is the service's second price hike in 2025. Skydance plans to merge streaming services, but details are unclear. The company aims for $6B in cost savings over three years, with $80B in debt.

Skydance Media has appointed JB Perrette as Co-Chair & Chief Business Officer for international streaming and networks, overseeing global operations outside the U.S. David Decker will lead content sales. Bryon Rubin temporarily manages free-to-air networks. Warner Bros. Discovery's (WBD) international structure is still being finalized, with more announcements expected. Skydance declined to comment.

The DOJ is investigating ABC, CBS, CNN, NBC, and Fox News for suspending White House pool coverage in protest of Trump's press ban. The administration is invoking antitrust law, claiming the networks' collective response may violate the Sherman Act. The networks argue their actions were peaceful political boycotts, not economic agreements. Trump excluded CNN, MSNBC, and Politico from coverage, leading to the suspension.

Skydance completed its $111B acquisition of Warner Bros. Discovery, creating a media giant. ICA welcomes Skydance's commitment to release 30+ theatrical films yearly with a 45-day window, though concerns remain about Australian releases. The ACCC approved the deal, finding no substantial competition impact.

Warner Bros.' film 'Digger,' starring Tom Cruise, is projected to lose $245 million globally, potentially making it the biggest box office flop ever. The film's second-weekend sales dropped 60%, bringing its total to $35.3 million. Variety reports it needs $350 million to break even, though Warner Bros. claims $300 million is the target. The film's Oscar campaign may be scaled back due to poor reception.

Paramount, backed by Larry Ellison, acquired Warner Bros. Discovery (WBD) for $111 billion, including its studios, HBO, and streaming platforms, after a competitive bidding process. The deal faced regulatory hurdles and concerns over job losses, but was finalized on October 6, creating a new company with $70 billion in annual revenue. According to the DOJ, the merger was approved in June, but faced legal challenges from state attorneys general.

Paramount Skydance completed its acquisition of Warner Bros. Discovery, forming Skydance (SKYD). The merged entity aims for $6B in synergies by 2026 and $20B in EBITDA by 2030, but faces debt and operational challenges. Netflix (NFLX) is preferred due to its stronger streaming position and financial outlook.