Paramount-Warner Bros $110bn deal to close as Skydance
Paramount Skydance's $110 billion acquisition of Warner Bros Discovery is set to close on October 6, creating one of the world's largest media groups.
The combined company will operate under the name Skydance. David Ellison will remain chairman and CEO, with Mattel chief Ynon Kreiz serving as co-CEO in charge of daily operations.
The deal brings together CBS, CNN, HBO, HBO Max, Paramount+, MTV, Discovery and the Warner Bros and Paramount film studios. Franchises include Harry Potter, DC, Game of Thrones and Top Gun.
The merger cleared its last legal hurdle on September 30, when a federal judge approved a settlement with 12 states that had challenged it on antitrust grounds.
Netflix had earlier bid about $82 billion for Warner Bros' studios and streaming assets but withdrew after Paramount's higher offer.
Skydance shares will move from Nasdaq to the New York Stock Exchange under the ticker SKYD. The company is targeting $6 billion in cost savings.
Paramount and Warner Bros Discovery announced their definitive merger agreement in February 2026 after a bidding contest that saw Netflix walk away. Regulators in several countries are still reviewing parts of the deal.
Sources: storyboard18.com, marketingmind.in, lawcommentary.com.
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