Settled, Closed, Skydance

It's over. On Tuesday, Paramount closed its $110 billion takeover of Warner Bros. Discovery.The first post in this series was called "The Streaming Wars Just Got Boring." Hold that thought.Last time I checked in, the deal was in a deep freeze. A judge then put a March trial on the calendar. It never got there.Tuesday: It ClosedThe deal closed October 6, after Supreme Court Justice Elena Kagan denied a last-minute petition from four Paramount customers asking to halt it. She didn't explain. The combined company is called Skydance and trades on the NYSE as SKYD. David Ellison is chairman and co-CEO, and Mattel's Ynon Kreiz is the other co-CEO, running day-to-day operations and integration.The balance sheet is the part to watch. Fitch estimates about $87.5 billion in total debt and downgraded both companies a notch after closing. The plan is $6 billion in savings over three years, and executives confirmed layoffs are coming.Ellison's day-one message was editorial independence. At a town…