Dhaka, Oct. 7 -- Paramount Skydance has officially completed its takeover of Warner Bros Discovery in a $110bn merger set to reshape Hollywood and the wider media landscape, the BBC reports.

The deal brings together two of Los Angeles' biggest studios after months of legal disputes and criticism that consolidation and job cuts could hurt competition and consumers.

The merger will affect streaming services used by millions and bring brands including HBO, CBS, Nickelodeon, Showtime, Comedy Central, DC Studios and Food Network under one company, according to the report.

Paramount will also take ownership of major franchises including Harry Potter, Game of Thrones and The Lord of the Rings, adding them to its existing titles such as Indian...