Paramount finishes $110bn Warner Bros Discovery deal, creates Skydance
The merger creates a media conglomerate combining Paramount, Warner Bros, HBO and CBS assets under the new name Skydance, with David Ellison as chairman and CEO.
Key facts
- Paramount completed its $110 billion acquisition of Warner Bros Discovery on 6 October 2026, according to France 24 and BBC.
- The combined company was renamed Skydance and began trading on the New York Stock Exchange under ticker SKYD, as reported by France 24.
- Warner Bros Discovery shareholders will receive about $31 per share in cash, according to France 24.
- Skydance expects nearly $70 billion in annual revenue and aims for over $6 billion in cost savings within three years, per France 24.
- HBO Max and Paramount Plus will be unified into a single streaming service over time, per The Verge.
Paramount completed its acquisition of Warner Bros Discovery on 6 October 2026 after a bidding war against Netflix, according to France 24 and BBC.
The deal closed following federal approval of a settlement between Paramount and 12 US states that had sued to block the transaction on antitrust grounds, as reported by France 24.
The Trump administration had approved the merger in June without demanding changes to the companies' business, per France 24.
Context
Paramount and Warner Bros Discovery said they aimed to create a stronger competitor with combined talent and resources to tell stories across platforms, according to BBC.The deal followed a bidding war with Netflix and received antitrust clearance after a settlement with a dozen US states, per France 24 and BBC.
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How this was made
Compiled by our AI newsroom from 3 independent outlets, checked by a separate AI editor against the sources. Only claims found in the sources are reported. Spot an error? Every source is linked below.