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Paramount has completed a $110 billion merger with Warner Bros, forming a new Hollywood entertainment giant named Skydance, after months of legal disputes, regulatory scrutiny and public protests. The deal combines two of Hollywood's largest movie studios and is expected to significantly reshape the entertainment and news industries. Analysts say the merger could affect everything from film production to streaming subscription prices for consumers. The deal marks the start of what NPR calls a 'new Hollywood era,' with implications for competition, content licensing, and industry consolidation going forward.