Paramount's $110 billion Warner Bros. acquisition closes, Skydance begins NYSE trading
The combined company Skydance starts trading on the New York Stock Exchange after Paramount's $110 billion purchase of Warner Bros. became final.
Paramount's acquisition of Warner Bros. officially became final in the morning, according to Collider. The combined company, Skydance, begins trading today on the New York Stock Exchange.
Paramount had offered $110 billion to acquire Warner Bros., a studio that had been operating independently for well over 100 years. It was reported last year that Warner Bros. was up for sale, and Netflix was once thought to be the leading bidder.
Earlier in the summer, Warner Bros. released James Gunn's second DCU movie, Supergirl, in theaters. The film carried a $170 million budget and grossed only $120 million worldwide, an estimated loss of over $100 million.
Digger, directed by Alejandro G. Iñárritu and starring Tom Cruise, opened with only $20 million in its first weekend. Its budget was estimated to have ballooned to around $180 million.