Paramount Skydance completed its $111 billion merger with Warner Bros. Discovery today, after a last-ditch effort to block the deal was rejected by Supreme Court Justice Elena Kagan.

The post-merger company is called Skydance, taking the name of a firm that Paramount bought in a separate deal last year. The new Skydance combines two of the largest movie studios, streaming services Paramount+ and HBO Max, CBS, CNN, "and a portfolio of live sports including CBS Sports and TNT Sports, as well as a deep programming library and expansive collection of brands and franchises," Skydance said today in a press release announcing completion of the deal.

The merger was delayed a bit by a lawsuit filed by California and 11 other states. In July, US District Judge Araceli Martínez-Olguín in the Northern District of California ruled that the combination would likely reduce competition substantially and violate antitrust laws.

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The US Supreme Court heard arguments from oil companies on Monday that could help decide the fate of more than two dozen lawsuits accusing the industry of deceiving the public about climate change. The claims seek potentially billions of dollars in damages to help pay the costs imposed by climate-related extreme weather.

Yet the questions before the court did not focus on the merits of these claims but instead on technical legal matters over whether they should proceed at all.

The case being argued was brought in 2018 by the city and county of Boulder against ExxonMobil and Suncor Energy in Colorado state court. While the case and dozens like it have survived multiple appeals in state and federal courts, the oil companies are asking the Supreme Court to declare that federal law preempts state and local governments from bringing such claims.

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