Overview
- The merger closed Tuesday, Oct. 6, 2026, when Paramount Skydance completed its acquisition of Warner Bros. Discovery and the combined company began operating as Skydance with Class B shares trading on the NYSE under the ticker SKYD.
- David Ellison will serve as chairman and CEO with Ynon Kreiz as co‑CEO and a senior leadership team that includes Casey Bloys, Dana Goldberg, Josh Greenstein, Mark Thompson and Bari Weiss to run studios, streaming, TV and news.
- Regulatory and legal settlements approved by a federal judge require minimum U.S. production spending, annual theatrical release quotas and the creation of a News Editorial Independence Board for CNN and CBS News as conditions of closing.
- The transaction is valued at roughly $110–111 billion, funded by major equity commitments led by the Ellison family, RedBird and Gulf sovereign funds plus bank‑led debt, leaving Skydance with about $80 billion in net debt and a target of roughly $6 billion in cost savings.
- Industry reaction is mixed: thousands of creatives and some state officials opposed the deal over competition and jobs, staff face near‑term restructuring and potential layoffs, and the company must integrate large business units while sustaining streaming subscribers, theatrical performance and newsroom trust.