Paramount and Warner Bros. Discovery to rebrand as Skydance after $110‑$111 billion merger
David Ellison, chairman and CEO of Paramount, announced that the combined Paramount and Warner Bros. Discovery will be renamed Skydance when the merger closes on Oct. 6, 2026. The deal, valued at roughly $110‑$111 billion, will be led jointly by Ellison and former Mattel CEO Ynon Kreiz. The new company will retain the Paramount and Warner Bros. brands as sub‑brands and will list on the NYSE under the ticker SKYD.
Why it matters
The name change signals the final step of a $110‑$111 billion consolidation that creates the largest U.S. media company, affecting shareholders of both firms and the competitive landscape for streaming and content. The company expects to assume over $80 billion of debt and to pursue $6 billion of cost cuts within three years, according to the filing.
Key facts
- 1The merger is set to close on Oct. 6, 2026. variety.com
- 2The transaction value is reported as $111 billion. variety.com
- 3The combined company will assume more than $80 billion of debt. variety.com
- 4Paramount is issuing about $42.4 billion in bonds and taking $8.5 billion plus €850 million in new loans to fund the deal. variety.com
- 5Larry Ellison has personally guaranteed $46.7 billion in equity financing for the takeover. variety.com
- 6Sovereign wealth funds of Saudi Arabia, Qatar and the UAE will commit roughly $24 billion and will own 38.5% of the combined company. variety.com
Summary written by AlphAI from 20 of 47 sources. Not investment advice. Figures are as stated by the linked sources.