Tony Soprano, I should like you to make the acquaintance of Vito Corleone.

In a merger of two colossal Hollywood portfolios, Paramount's $81 billion takeover of Warner Bros. Discovery was finalized on Tuesday, bringing together everything from cartoons featuring Bugs Bunny and SpongeBob Squarepants to news broadcasts anchored by Anderson Cooper and Gayle King.

The resulting company, a behemoth now known as Skydance, reshapes the media world.

Here’s what the deal may mean for streaming, movies, news and more:

Skydance is bringing Paramount+ together with HBO Max, with plans to unify its streaming products “into a single service over time.”

What this would be called and how it might affect consumer costs and choices remains unknown.

David Ellison, the architect of the deal and the company’s CEO, has suggested HBO could still have some level of independence.

"Our standpoint is that HBO ought to remain HBO," Ellison remarked earlier this year.

"They have cultivated a phenomenal brand, they are a frontrunner in this domain, and we simply wish for them to carry on doing more of it.

However, by uniting the platforms, the entirety of our content will be capable of reaching an even broader audience than we could achieve independently."

Paramount has additionally acquired Warner’s smaller Discovery+ streaming service, thereby incorporating it alongside Paramount+, Pluto TV and BET+.

Critics have voiced skepticism about how consumers might benefit, warning that already rising subscription fees could spike as the conglomerate meets payments on the billions of dollars in debt Ellison took on to finance the deal.

What remains undisputed is the magnitude of the resulting content library.

Paramount+ and HBO Max collectively account for approximately 14% of the U.S. streaming market, on par with rival Disney+, yet still trailing Amazon Prime at 17% and Netflix at 19%, according to the streaming guide JustWatch.

It combines movie franchises such as “Mission: Impossible” with “Lord of the Rings,” television hits spanning “I Love Lucy” to “Friends,” and personalities ranging from Guy Fieri to RuPaul.

Don’t expect a “Diners, Drive-Ins and Dives Drag Race” anytime soon, but with so many properties combining forces, there is potential for all kinds of crossover.

Paramount and Warner Bros. rank among Hollywood’s most venerable studios; their merger signifies that fewer corporations wield control over legacy film production.

Under a settlement reached last month with 12 states, the combined company has agreed to distribute 30 films in theaters each year for the next two years — and 32 films each year for three years after that.

The fine print notes that only 50% of those movies would have to be "produced or jointly produced" by the combined company.

Skydance also agreed to increase spending on film production in the U.S. by at least $1.5 billion over the next five years.

Nevertheless, many have voiced apprehension regarding the implications that further consolidation might hold for employment and which projects will ultimately receive approval in the future.

Regulatory filings have suggested that the new ownership will be seeking avenues to reduce expenditures — encompassing layoffs and the downsizing of certain overlapping operations.

Hollywood’s big six contracted to five when Disney acquired the majority of 20th Century Fox in a deal finalized in 2019.

Now it’s a big four: Skydance, Disney, Universal and Sony.

The deal also brings news giants CNN and CBS under one owner, which worries many journalists because of the Ellison family's close relationship with President Donald Trump.

Since Ellison appointed Free Press founder Bari Weiss as editor-in-chief, CBS News has taken steps to appeal to more conservative viewers.

At “60 Minutes,” the new management brought considerable turmoil, with the firings of its executive producer and three veteran correspondents, who have claimed that Weiss sought changes to news reports that appeared to be driven by politics.

Trump, who has denounced the coverage of both networks as “fake news,” remarked on Tuesday that he was pleased the merger had been finalized, adding that Skydance is “going to be a great company.”

Foreign investors who are expected to hold significant indirect ownership stakes are also drawing attention.

The FCC granted Paramount's request for sovereign funds from Saudi Arabia, Qatar and the United Arab Emirates to indirectly own almost 50% of the combined company's equity interests, and possibly up to 100% through future investments, but without voting rights.

Ellison has asserted that editorial independence will be preserved at CNN.

The merged entity is retaining Mark Thompson as CNN’s editor-in-chief and has consented to establish a “News Editorial Independence Board.”

Skydance’s corporate board of directors will determine the composition of this newly established body.