Overview
- Paramount Skydance closed the acquisition on Tuesday, October 6, 2026, renamed the combined company Skydance and began trading on the New York Stock Exchange under the ticker SKYD.
- David Ellison will serve as chairman and CEO with Ynon Kreiz as co‑CEO, and a senior leadership team was announced to run studios, streaming, television and finance.
- Skydance starts life carrying about $80 billion of net debt supported by roughly $47 billion of new capital led by the Ellison family and partners and is targeting about $6 billion in cost savings over three years.
- A federal court‑approved settlement with 12 state attorneys general requires the company to meet minimum film production quotas and establish an independent editorial council to protect CNN and CBS News.
- Near‑term priorities are integration of studios and streaming services, debt reduction and workforce cuts, which industry players warn could reshape jobs, creative output and competitive dynamics.