Hollywood Mega-Merger: Paramount and Warner Bros. Discovery have officially closed their $110B+ deal, creating Skydance under David Ellison and co-CEO Ynon Kreiz, with plans to merge streaming services and target $6B in cost cuts. Franchise Watch: Paramount is moving fast on “Transformers 8,” with Steven Spielberg set to oversee creative direction and Michael Bay in early talks to direct, while the film is expected to be set in the modern day. AI in Film: “Gods Don’t Give Gifts” drops its first trailer as an AI-driven sci-fi horror theatrical release, and USC Annenberg launched an AI in Film & TV survey inviting industry professionals to weigh in. Festival Spotlight: Busan International Film Festival opens its 31st edition with A-list accreditation, while the American French Film Festival unveils its 30th lineup featuring Oscar contenders. New Releases & Buzz: Tom Cruise’s “Digger” is reported to have flopped at the box office; “Verity” continues to spark debate as Semi-Formal promotes its success. Global Indie: Jasmine Curtis-Smith leads Marie Jamora’s international rom-com “We Could Be in Love,” now in production across New York and Manila. Real-World Film & Rights: Kashmiri filmmaker Arfat Sheikh was detained by ICE at Dulles while traveling for an “Art as Resistance” panel.