What Paramount's Warner Bros takeover means for what we watch

Key points

• Paramount has completed its $US113 billion ($162 billion) takeover of Warner Bros Discovery, creating one of the world's biggest entertainment and media companies. The new company will be led by David Ellison, whose family has close ties with US President Donald Trump.
• The merger brings together major film, television, and news brands, including The Godfather, Top Gun, Harry Potter, Friends, and the DC universe.
• It also combines Paramount's Network 10 and Paramount+ with Warner Bros Discovery's HBO Max, serving Australian audiences.