Overview
- The deal closed on Tuesday, Oct. 6, 2026, when Paramount Skydance completed its purchase of Warner Bros. Discovery and began operating under the single name Skydance.
- Co‑CEOs David Ellison and Ynon Kreiz told staff that integration will include layoffs as the company seeks more than $6 billion in annualized savings.
- Skydance carries roughly $79–80 billion of acquisition-related debt with major financing and guarantees from Larry Ellison that executives say must be reduced while funding a $30–$40 billion content plan.
- The company confirmed plans to combine HBO Max, Paramount+ and Discovery+ into one direct‑to‑consumer service over time and named Casey Bloys and JB Perrette to lead the streaming effort.
- Regulators required enforceable concessions in the settlement, including an independent news editorial board for CNN and CBS and minimum U.S. production and theatrical-release quotas, while game and experiences units were consolidated under Tony Driscoll.