Overview
- The deal closed on October 6 and the combined company began trading as Paramount Skydance (SKYD) under CEO David Ellison and CEO-operator Ynon Kreiz.
- The acquisition brings major film studios, TV networks and streaming platforms together, including Warner Bros., Paramount, CBS, CNN, HBO, Paramount+ and HBO Max under one owner.
- Financing relies on large bank debt commitments reported at about $54 billion and tens of billions in equity from Larry Ellison, leaving the company with roughly $80 billion of net debt.
- Management has announced a plan to combine Paramount+, HBO Max and Discovery+ over time and to pursue about $6 billion in cost savings over three years, a strategy the company says may require significant job reductions.
- The deal survived DOJ approval and a lawsuit by a coalition of state attorneys general that briefly paused the transaction, and the court-approved settlement imposes production, theatrical and independent newsroom safeguards.