What the Paramount and Warner Bros Discovery merger means for Hollywood

Paramount Pictures has bought Warner Bros Discovery in a mega-merger that has created Skydance, one of the biggest media empires in the world. Skydance will control HBO, DC Comics, New Line Cinema, CBS, CNN and Channel 10 in Australia, and will be led by David Ellison, son of tech billionaire and Trump ally Larry Ellison. Entertainment journalist Kim Masters says large layoffs are widely expected, and a Deakin University professor says the merger could undermine American democracy.