LOS ANGELES, CALIFORNIA - OCTOBER 06: In an aerial view, the Paramount logo is displayed on a water tower at the Paramount Studios lot on October 06, 2026 in Los Angeles, California. Paramount Skydance completed its $110 billion acquisition of Warner Bros. Discovery, creating a new global entertainment company called Skydance that combines major film studios, streaming services Paramount+ and HBO Max, and news networks CBS and CNN. (Photo by Justin Sullivan/Getty Images)