Paramount and Warner Bros. Discovery merge to form Skydance
Paramount and Warner Bros. Discovery completed a merger on 6 October 2026, creating a new company called Skydance. The deal was led by billionaire David Ellison, who will serve as chairman and CEO alongside co‑CEO Ynon Kreiz. The combined entity will retain the Paramount, Warner Bros., HBO, CBS and CNN brands and will trade on the NYSE under the ticker SKYD.
Why it matters
The merger creates a media conglomerate valued at roughly $110 billion, giving investors exposure to a broader portfolio of studios, streaming services and news outlets. The company expects $6 billion of annual cost synergies, which could improve earnings per share for shareholders. WBD shareholders will receive $31 per share in the transaction, as disclosed by the companies.
Key facts
- 1The merger closed on 6 October 2026. ibc.org
- 2The transaction is valued at $110 billion, including $80 billion of debt. ktvz.com
- 3WBD shareholders will receive $31 per share. adgully.com
- 4The new company will list on the NYSE under the ticker SKYD. adgully.com
- 5David Ellison will be chairman and CEO; Ynon Kreiz will be co‑CEO. androidheadlines.com
- 6The deal targets $6 billion of annual cost synergies. ktvz.com
Summary written by AlphAI from 20 of 49 sources. Not investment advice. Figures are as stated by the linked sources.