Paramount and Warner Bros. Discovery Complete $110 Billion Deal, Create Skydance

Paramount Skydance has completed its acquisition of Warner Bros. Discovery, creating a new global media and entertainment giant operating under the corporate name Skydance.

The roughly $110 billion transaction brings some of Hollywood’s biggest studios, television networks and streaming platforms under one company, including Paramount Pictures, Warner Bros., CBS, CNN, HBO, Nickelodeon, MTV, Paramount+ and HBO Max.

The combined company will be led by David Ellison, with former Mattel chief Ynon Kreiz serving as co-CEO and overseeing day-to-day operations and integration.

The Paramount and Warner Bros. names will remain major studio and operating brands within the new company.

Shares of the newly formed Skydance Corporation will trade on the New York Stock Exchange under the ticker SKYD.

The transaction creates one of the world’s largest entertainment companies, combining major franchises including Harry Potter, DC, Game of Thrones, Mission: Impossible, Top Gun and Yellowstone.