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Story summary
- David Ellison and Ynon Kreiz completed the merger that created Skydance, uniting Paramount and Warner Bros. Discovery.
- Elon Musk reportedly invested $1 billion in Skydance as part of a new equity raise.
- Skydance carries nearly $80 billion in debt after the $110 billion acquisition of Warner Bros. Discovery.
- The company aims to achieve $6 billion in cost savings within three years.
- Consumers, the Writers Guild of America and 12 states sued, alleging antitrust violations.