New Delhi, Oct. 7 -- Skydance CEO David Ellison has told employees of the newly combined Paramount-Warner Bros. Discovery company that the $110 billion merger marks the beginning of an ambitious new phase for the media giant, while acknowledging that the integration will involve difficult decisions and changes for staff.

Speaking at the company's first town hall on Tuesday, Ellison thanked Warner Bros. Discovery employees for joining the new organisation and Paramount staff for their patience during the lengthy merger process. His remarks came hours after he and co-CEO Ynon Kreiz announced that the deal had officially closed.

Ellison addressed employees at 1 p.m. ET at an internal meeting, according to an audio recording obtained by Bus...