After months of competitive bidding and legal tug-of-war, Paramount Sky Dance Company announced on the 6th that it has completed the acquisition of Warner Bros. Discovery worth about 110 billion US dollars, creating a new supermedia group spanning Hollywood and the news industry. This is one of the largest mergers and acquisitions in the history of the US media industry. The new company will be called Tianmu for short. It will include Paramount and Warner Bros. film and television studios, streaming services such as Paramount+ and HBO Max, and two major news organizations, CNN and CBS News. David Ellison, son of Larry Ellison, the founder of American tech giant Oracle, will be the new company's chairman and CEO, and Enon Kreiz, a former manager of the toy manufacturing company Mattel, will serve as co-CEO. In a statement, David Ellison called the merger “historic” for the entire industry, saying the goal was “to combine these two historic film studios to create a stronger competitor.” The merger between Paramount and Warner Bros. rewrote the Hollywood landscape, and now there are only four of the Big Five Hollywood companies left. In addition to Tianmu, the other three major traditional film and television giants are Disney, Universal Pictures, and Sony Pictures.

After months of competitive bidding and legal tug-of-war, Paramount Sky Dance Company announced on the 6th that it has completed the acquisition of Warner Bros. Discovery worth about 110 billion US dollars, creating a new supermedia group spanning Hollywood and the news industry. This is one of the largest mergers and acquisitions in the history of the US media industry. The new company will be called Tianmu for short. It will include Paramount and Warner Bros. film and television studios, streaming services such as Paramount+ and HBO Max, and two major news organizations, CNN and CBS News. David Ellison, son of Larry Ellison, the founder of American tech giant Oracle, will be the new company's chairman and CEO, and Enon Kreiz, a former manager of the toy manufacturing company Mattel, will serve as co-CEO. In a statement, David Ellison called the merger “historic” for the entire industry, saying the goal was “to combine these two historic film studios to create a stronger competitor.” The merger between Paramount and Warner Bros. rewrote the Hollywood landscape, and now there are only four of the Big Five Hollywood companies left. In addition to Tianmu, the other three major traditional film and television giants are Disney, Universal Pictures, and Sony Pictures.