""We continue to make steady progress toward completing the WBD transaction, which we believe will strengthen our competitive position and enhance our ability to shape the next era of entertainment," Paramount Skydance CEO and Chairman David Ellison told shareholders during the company's earnings call on Monday."
""The combination of these two iconic companies will create a leading global media and entertainment company accelerated by technology that strengthens competition and better serves the creative community," Ellison said."
""We continue to advance through European and other international regulatory approvals, several of which have already been secured," Ellison said, pointing to the recent WBD shareholder vote of approval as a milestone and sign that the deal is close to completion."
Paramount's acquisition of Warner Bros. Discovery is progressing, with expectations to finalize the deal by the end of Q3. CEO David Ellison stated that the merger, valued at approximately $110 billion, will strengthen their competitive position. Paramount has met its US regulatory obligations and is advancing through international approvals. The merger aims to create a leading global media company. Additionally, Paramount's streaming business saw an 11% year-over-year increase, with Paramount+ gaining 700,000 new subscribers and a 14% rise in average revenue per user.
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