Paramount finalizes $110B Warner Bros. acquisition to launch Skydance

A combined entertainment entity named Skydance has officially launched following Paramount’s completion of its $110 billion acquisition of Warner Bros. Discovery, as announced Tuesday. This transaction represents one of the largest mergers in corporate history, consolidating two dominant streaming services, Paramount+ and HBO Max, alongside major networks such as CBS, CNN, MTV, TBS, Comedy Central, and Food Network.

Franchise portfolio expansion

The newly formed company secures control over high-value intellectual properties including “The Lord of the Rings,” “Game of Thrones,” the DC Universe, and “Yellowstone.” These assets place one of the world’s most significant entertainment studios under the leadership of David Ellison, who previously merged Skydance Media with Paramount last year to expand his Hollywood influence.

Ownership structure and backing

Skydance’s primary shareholder is the Ellison family, supported by the financial resources of Larry Ellison, co-founder of Oracle and father of David Ellison. The deal’s finalization followed the resolution of legal obstacles through settlements with a coalition of U.S. states and a Hollywood writers’ union.

Competitive bidding context

Paramount initially signaled its intent to acquire Warner Bros. in February after competing against Netflix. The rival streamer had earlier agreed to purchase Warner Bros.’ film, television, and streaming divisions but excluded cable networks. To secure the deal, Paramount enhanced its offer by promising shareholders additional cash if closure missed a set deadline and agreeing to pay the breakup fee owed to Netflix for terminating that prior agreement.

Leadership statement on future goals

“Today is a historic day, not just for Skydance but for our entire industry,” Ellison said in a statement. He emphasized the ambition to unite two storied studios into a stronger competitor capable of telling stories across all genres and platforms. “Our focus now turns to the future: building a company that empowers creatives, entertains audiences and rewards shareholders. We couldn’t be more excited to get to work.”

Financial projections and trading details

The corporation projects annual revenue approaching $70 billion. Skydance Class B shares commenced trading on the New York Stock Exchange today under the ticker symbol “SKYD.”