Overview
- Skydance closed the transaction Tuesday, Oct. 6, 2026, and its Class B shares began trading on the New York Stock Exchange under the ticker SKYD.
- David Ellison will lead Skydance as chairman and CEO with Ynon Kreiz as co‑CEO and a senior team that keeps Mark Thompson at CNN and Bari Weiss at CBS News.
- The merger was financed by a $47 billion equity package led by Larry Ellison, RedBird and sovereign investors plus roughly $80 billion of net debt arranged by major banks.
- As part of settlements that cleared legal blocks, Skydance must meet minimum theatrical and production commitments, keep studio lots open for five years and set up independent editorial safeguards for CNN and CBS News.
- The company is targeting about $6 billion in cost savings as it integrates streaming, studios and TV operations, a push that analysts and insiders say increases the risk of large‑scale layoffs and will shape competition with Disney, Netflix and tech rivals.