Skydance closes $110 billion Paramount-WBD merger on October 6

The acquisition of Warner Bros. Discovery by Paramount Skydance is scheduled to finalize on October 6, 2026, establishing Skydance Corporation as the new parent entity for both media giants. This transaction, valued at approximately $110 billion, positions the combined group among the largest media and streaming conglomerates globally.

Leadership structure and corporate identity

David Ellison retains his roles as chairman and CEO of the unified organization. Ynon Kreiz assumes the position of co-CEO, with responsibilities focused on daily operations and the integration processes between Paramount and Warner Bros. Discovery.

The corporate branding adopts the name Skydance, derived from the production company Ellison established roughly two decades ago. Despite this overarching identity, the Paramount and Warner Bros. names remain in active use for their respective studios and operational units. Financially, Skydance Class B shares are set to transfer from Nasdaq to the New York Stock Exchange, trading under the ticker symbol SKYD.

Competitive bidding history

Prior to the current agreement, Netflix had reportedly advanced a proposal valued at approximately $82 billion targeting Warner Bros. Discovery’s studio and streaming assets. That bid was withdrawn after Paramount submitted a higher offer. The closing date of October 6, 2026, marks the next critical milestone in the formation of Skydance Corporation.

The newly formed parent company encompasses major television, film, and streaming brands. Its content portfolio includes significant franchises such as The Lord of the Rings, Mission: Impossible, and various Nickelodeon productions and characters.