Skydance-owned Paramount has completed its acquisition of Warner Bros. Discovery in a deal valued at $81 billion in equity, VietnamPlus reported. Including debt, the total value is close to $111 billion. The parent company retains the Skydance name, while Paramount and Warner Bros. continue as separate studio brands. The transaction combines major film, television and streaming assets and has prompted concerns about jobs and competition. The $81 billion and near-$111 billion figures reflect different valuation measures for the same deal, rather than separate acquisitions.