Paramount debt to hit $79 billion after Warner Bros deal, no plan to sell cable assets

The Warner Bros-Paramount Skydance merger will create a combined entity that would ​have a net debt of about $79 billion, Paramount ​said on Monday, as it ruled out any plan to divest or spinoff ​the cable assets.

This was disclosed by Paramount CEO David Ellison in a call with analysts after signing the $110 billion, or $31-per-share, deal for Warner Bros early on Friday, after Netflix declined to raise its offer.