Last week Paramount Global and Skydance Media closed their $8 billion merger, combining Paramount’s 100-year studio history with Skydance’s modern production and distribution pipeline. Led by Skydance founder David Ellison, the new company marries Paramount’s film and television library, CBS, and cable networks with Skydance’s production assets. The deal followed more than a year of negotiations, regulatory review, and political controversy, including a $16 million settlement with U.S. Pres. Donald Trump tied to CBS’s 60 Minutes. Ellison has pledged to modernize content creation and rebuild the Paramount+ streaming platform while reviewing CBS News operations.

When the House of Mouse reported its third-quarter earnings last week, it confirmed that Hulu will be fully integrated into its Disney+ streaming service later this year, unifying general entertainment, family programming, and sports on one platform. Meanwhile, its ESPN sports broadcasting division announced a five-year $1.6 billion deal with WWE to stream live events, including its flagship WrestleMania and Royal Rumble series. ESPN also reached a tentative agreement with the NFL to acquire NFL Network and receive distribution rights to the RedZone channel. Under the agreement, the NFL would take a 10 percent stake in ESPN.

Warner Bros. Discovery, formed in 2022 from the merger of WarnerMedia and Discovery Inc., announced in June that it will split into two companies. One will focus on streaming and studio production, including HBO, Warner Bros. Pictures, and DC Studios; the other will oversee cable and network assets such as CNN, HGTV, and Cartoon Network. The decision comes after sharp market value losses since 2022 and continued audience migration from traditional television to streaming.