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PARAMOUNT COMPLETES ACQUISITION OF WARNER BROS. DISCOVERY, CREATING A NEW GLOBAL ENTERTAINMENT LEADER, SKYDANCE
- PSKY
0.00% - SKYD
-2.51% - WBD
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The combination builds on the storied history of two of the world’s most recognizable entertainment companies, forming a single creative powerhouse.
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The combined company, Skydance, brings together two major film studios, two global streaming services, premier television assets including CBS, HBO, and Paramount’s and WBD’s cable networks, two of the industry’s most recognized news networks, CBS News and CNN, and a leading content portfolio that includes live sports, a deep programming library and expansive collection of iconic brands and franchises.
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Together, Paramount and WBD will deliver enhanced output commitments, including a minimum of 30 high-quality theatrical films per year and 180+ television shows and series.
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Skydance aims to build the next-generation global media and entertainment company powered by creativity and technology. We are creative-first, audience focused, tech-forward, globally scaled.
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Storytelling anchors the combined company’s growth strategy – expanding opportunities for the world’s leading creative talent and widening choice for consumers across every entertainment vertical.
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Disciplined execution and an owner-operator model underpin the strategy, targeting at least $6 billion in run-rate synergies within three years.
LOS ANGELES and NEW YORK, Oct. 6, 2026 /PRNewswire/ — Skydance Corporation (f/k/a Paramount Skydance Corporation) (NYSE: SKYD) (“Paramount”) today announced the completion of its acquisition of Warner Bros. Discovery, Inc. (NASDAQ: WBD) (“WBD”), creating a combined company, named “Skydance.” The company brings together two major film studios, two global streaming services, a premier television portfolio including CBS, HBO, and Paramount’s and WBD’s cable networks, two of the industry’s most recognized news networks, CBS News and CNN, and a portfolio of live sports including CBS Sports and TNT Sports, as well as a deep programming library and expansive collection of brands and franchises. The transaction closed following receipt of all required regulatory approvals under the merger agreement and satisfaction of other customary closing conditions. Skydance Class B shares will begin trading today on the New York Stock Exchange (NYSE) under the new ticker symbol “SKYD.”
Under the terms of the agreement, WBD shareholders received an amount in cash equal to $31.01666668 per share. WBD shares have ceased trading on NASDAQ, effective today.
The completed transaction unites two of media and entertainment’s most storied companies, each with a history spanning more than a century, giving the combined business a rare legacy to build on. The aim of the combined company is to build the next-generation global media and entertainment company powered by creativity and technology.
