Dilara Hamit
02 October 2026•Update: 02 October 2026
The company formed through the merger of Paramount Skydance and Warner Bros. Discovery will be named Skydance Corporation when the transaction closes next week.
The deal is expected to be completed on Oct. 6, subject to customary closing conditions, according to company filings. It values Warner Bros. Discovery at an enterprise value of about $110 billion.
The Skydance name comes from the film and television production company founded by David Ellison, who will serve as chairman and chief executive of the combined group.
The corporate identity is intended to sit above Paramount and Warner Bros., allowing the two studios to retain their individual names and established brands.
Skydance also plans to transfer its Class B common stock from the Nasdaq exchange to the New York Stock Exchange. Trading on the NYSE is expected to begin Oct. 6 under the ticker symbol SKYD, replacing the current PSKY symbol.
The merger will bring together Paramount Pictures and Warner Bros., as well as the Paramount+ and HBO Max streaming platforms. Its television operations will include CBS, CNN, MTV, TBS, Comedy Central and Food Network.
The combined catalogue will encompass franchises and properties including Harry Potter, The Lord of the Rings, Game of Thrones, the DC Universe, Yellowstone, Mission: Impossible, Top Gun and Nickelodeon’s children’s programming.
Former Mattel chief Ynon Kreiz will join the company as co-chief executive, while Ellison will remain chairman and CEO. Kreiz is scheduled to begin his role on Oct. 5, a day before the planned completion of the merger.
The transaction concludes a prolonged contest for Warner Bros. Discovery. Paramount prevailed after outbidding Netflix, which had reached an agreement to acquire Warner Bros.’ studio and streaming operations.
A federal judge cleared one of the final obstacles on Sept. 30 by approving a settlement between Paramount and 12 US states that had sought to block the transaction on antitrust grounds.
The acquisition is being financed through a combination of shares, loans, bonds and outside investment. Paramount has arranged more than $41 billion in dollar-denominated bonds, €885 million ($993 million) in euro-denominated notes and new term loans worth $8.5 billion and €850 million ($954 million).
Affiliates of Oracle founder Larry Ellison have committed up to $46.7 billion in equity financing. Investment vehicles linked to the sovereign wealth funds of Saudi Arabia, Qatar and the United Arab Emirates are also participating in the transaction alongside RedBird Capital Partners.
Control of the company will rest with David Ellison, Larry Ellison and RedBird founder Gerry Cardinale. Skydance will begin operations with one of the entertainment industry’s largest collections of studios, networks and intellectual property, but it will also face the challenge of integrating two sprawling businesses while also managing substantial debt.
