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Movies may soon get more boring

The Paramount-Warner Bros. merger puts Hollywood in the hands of just five massive companies.

This story appeared in Today, Explained, a daily newsletter that helps you understand the most compelling news and stories of the day. Subscribe here.

The Trumpy tech billionaire Larry Ellison has wrapped his tentacles around the US branch of TikTok, an entire Hawaiian island — and now, officially, a very large share of the world’s news and entertainment production.

On Tuesday, the media behemoth Paramount — which is headed by Ellison’s son — completed its $110 billion mega-merger with Warner Bros. Discovery, in a controversial and hard-fought deal backed by the elder Ellison.

A daily, curiosity-driven guide to the big, weird, and fascinating ideas shaping the news cycle.

The merger combines a sprawling collection of brands, including HBO, CBS, and Paramount Pictures under one rebranded umbrella. It also concentrates much of the US film and television business in the hands of just five companies. Unions, theater owners, media watchdogs, and several state attorneys general were accordingly concerned: Combining two major competitors in any industry inherently concentrates power over what gets........

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