Skydance has completed its $11 billion acquisition of WBD. The combined company carries nearly $90 billion in debt. It plans to cut at least $2 billion in costs, with layoffs accounting for part of the savings.

Odysseus and his intrepid crew sailed through Comcast’s latest quarter as Universal surpassed $5 billion at the global box office.

Netflix lowered its fourth-quarter revenue guidance to $13.4 billion. It also cut its 2026 advertising revenue outlook to $2.7 billion.

Gerry Cardinale, a Paramount board member and a chief architect of its merger with Warner Bros. Discovery, said most of the $6 billion in expected cost savings will not come from layoffs. Speaking at a Bloomberg conference, he said the bulk of the savings are expected to come from consolidating nonlabor costs such as real estate and other overhead. The $110 billion transaction is expected to close Tuesday after a lengthy legal fight and more than a year of negotiations.

Paramount on Monday began marketing $44.4 billion of debt to finance its acquisition of Warner Bros. Discovery, including about $32 billion of investment-grade bonds, the equivalent of $12.4 billion in high-yield bonds, and a $7.5 billion seven-year loan. The broader financing package totals $51.9 billion. The only remaining obstacle is approval by a federal judge of a proposed settlement in an antitrust lawsuit brought by 12 state attorneys general.

The U.S. Federal Communications Commission has approved the foreign-investment review tied to Paramount’s proposed merger with Warner Bros. Discovery. Paramount disclosed that foreign ownership of the combined company would be 49.5%, including 38.5% from investment funds from Saudi Arabia, Qatar and Abu Dhabi. The FCC’s ruling adds conditions requiring permission if aggregate foreign voting interests exceed 25%. Paramount said that after closing, the Ellison family and RedBird will hold the largest equity stake and 100% of the voting shares, leaving other equity holders without governance rights.

Paramount and Warner Bros Discovery’s $110 billion merger is facing an antitrust lawsuit filed jointly by 11 U.S. states. Paramount has sought a $1.88 billion bond to cover a daily “ticking fee” during the litigation that could total $635 million per quarter and be paid directly to WBD shareholders. The combined company has projected $6 billion in cost savings that are expected to come in part from layoffs. Hearings and court-ordered settlement meetings are scheduled in the coming weeks.

A U.S. judge ordered Paramount and the state attorneys general seeking to block its merger with Warner Bros. Discovery to attend a two-day settlement conference on Oct. 14–15. California Attorney General Rob Bonta previously canceled a scheduled meeting after accusing Paramount of leaking details from an earlier discussion, an allegation the company denied. Under the merger agreement, Paramount would owe a $7 million-a-day ticking fee starting Oct. 1 if the deal has not closed. The court will also hold a Sept. 24 hearing on Paramount’s bid to require plaintiffs to post a $1.88 billion bond tied to that fee.

The U.S. Supreme Court has given California Attorney General Rob Bonta and 11 other Democratic-state attorneys general two weeks to respond to Iowa and Montana’s challenge to their lawsuit aimed at blocking the $111 billion Paramount–WBD merger. The deadline lands as the blue-state coalition is set to oppose Paramount’s request for a $1.88 billion bond before a federal judge in Oakland. It also comes just days before a $7 million-per-day ticking fee to Warner Bros. Discovery shareholders is scheduled to take effect, according to Deadline.