United States · Business news · Corporate · 06 Oct 2026
Paramount Skydance completed its $110 billion acquisition of Warner Bros. Discovery on Tuesday, after settlements with US states and the Hollywood writers' union. The combined company is named Skydance and its shares moved from Nasdaq to the New York Stock Exchange under the symbol SKYD. It brings together CBS, CNN, HBO Max and Paramount+ and franchises such as Mission: Impossible, Harry Potter and DC. David Ellison leads strategy and Ynon Kreiz day-to-day operations. The company carries about $80 billion of debt and targets $6 billion of cost reductions, and has committed to 30 films a year for two years, then 32.
This is one of the largest media mergers on record and removes an independent studio and streaming service from the US market. With about $80 billion of debt, Skydance's finances rest on the $6 billion of savings and on combining its streaming services; MoffettNathanson's estimate cited in the report is about $67 billion of revenue and $16 billion of EBITDA in 2028. Competing streamers, cinema chains (through the film-count commitment), advertisers buying across CBS and the cable networks, and production suppliers all deal with one larger counterparty from now on.
Reported by PYMNTS — “Skydance Closes $110 Billion Warner Bros. Deal, Reshaping Hollywood” ↗ on 06 Oct 2026.
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