After lengthy negotiations and several rounds, the deal was completed on Tuesday. Including debt, it is worth just over $110 billion, equivalent to 1,100 billion kronor, according to US media reports.
The new company, which will be called Skydance, will combine two of Hollywood's biggest film studios. It will also include dozens of television networks and two major streaming services, Paramount+ and HBO Max.
Paramount CEO David Ellison will lead the giant company.
“Today is a historic day, not just for Skydance but for our entire industry,” he said in a statement.
