A major merger has been completed, creating a new giant in the entertainment industry. Skydance-owned Paramount has taken over Warner Bros. Discovery in a $110 billion deal. This brings together two of America's oldest moviemaking studios, along with other notable properties such as HBO Max and CNN.

The merger concentrates power in the hands of a few major players, with billionaire David Ellison and co-CEO Ynon Kreiz at the helm. The combined entity will oversee a range of titles and networks, including Paramount+, CBS, and films like "Top Gun" and "The Godfather".

Further details about the merger and its implications are available from the source, providing insight into the new landscape of the entertainment industry.