Overview
- The deal closed on Tuesday, October 6, and the merged company now operates as Skydance and trades on the NYSE under the ticker SKYD.
- David Ellison was named chairman and CEO and Ynon Kreiz co‑CEO, while Laurene Powell Jobs and Bobby Kotick joined the board and Tony Blair will serve as a board adviser.
- A multistate settlement requires Skydance to deliver at least 30 theatrical releases a year, increase U.S. production spending, maintain historic studio lots, and create an independent newsroom oversight board.
- Company leaders announced a target of more than $6 billion in synergy savings over three years and warned that integration will include difficult workforce decisions and likely layoffs.
- Skydance plans to merge HBO Max and Paramount+ into a single streaming product over time and to combine Paramount and Warner games units under Tony Driscoll, leaving the timing and scope of those integrations uncertain while the company addresses very high leverage.