Paramount Skydance has completed its acquisition of Warner Bros. Discovery, creating a combined global media and entertainment company named Skydance.
The transaction closed on October 6, 2026, after the required regulatory approvals and other closing conditions were completed. The deal valued Warner Bros. Discovery at about $81 billion in equity value and about $110 billion in enterprise value.
Editorial Insight
Key Highlights
Important points readers should notice.
Paramount Skydance completed the acquisition of Warner Bros. Discovery.
The transaction closed on October 6, 2026.
The deal was valued at about $81 billion in equity value and $110 billion in enterprise value.
The combined company is named Skydance.
David Ellison is Chairman and CEO, while Ynon Kreiz is Co-CEO.
Skydance shares trade on the NYSE under the ticker SKYD.
The combined company brings together Paramount and Warner Bros. film studios, the Paramount+ and HBO Max streaming services, television assets including CBS and HBO, and news networks including CBS News and CNN. Its portfolio also includes major entertainment franchises and a range of sports and television properties.
David Ellison remains Chairman and CEO of the combined company, while Ynon Kreiz serves as Co-CEO. Ellison will focus on long-term strategy, creative direction, technology and capital allocation, while Kreiz will oversee day-to-day operations and integration of the combined businesses.
Following completion of the transaction, the combined company began trading on the New York Stock Exchange under the name Skydance and ticker symbol SKYD. Warner Bros. Discovery shares ceased trading on Nasdaq.
Editorial Analysis
Why This Matters
The transaction combines two major Hollywood entertainment businesses and brings their film studios, streaming services, television, news and other media assets under one corporate structure.
