Skydance Era Begins: Paramount-Warner Bros. Merger Officially Closes

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Posted in: HBO, Max, Movies, Paramount+, TV | Tagged: paramount, Skydance, warner bros discovery

Skydance Era Begins: Paramount-Warner Bros. Merger Officially Closes

With the official close of the Paramount-Warner Bros. Discovery merger deal, David Ellison's Skydance Corporation era is now underway.

Published Tue, 06 Oct 2026 08:31:11 -0500
by Ray Flook
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Article Summary

  • Skydance era officially begins as the Paramount and Warner Bros. Discovery merger closes under co-CEOs David Ellison and Ynon Kreiz.
  • Skydance says the combined company brings a vast film-TV library, major streaming reach, top sports rights, and global scale.
  • The new Skydance commits to at least 30 theatrical releases a year, each backed by a minimum 45-day theatrical window.
  • Ellison calls the merger a historic industry moment, backed by $47 billion in new equity and major debt financing partners.

And with that, Paramount Skydance Corporation and Warner Bros. Discovery, Inc. are no longer separate companies, as the era of co-CEOs David Ellison and Ynon Kreiz's Skydance Corporation begins. According to the press release announcing that the merger deal had closed, Skydance outlined a number of highlights from the deal (in their words):

Image: Skydance Screencap
  • Storytelling will drive the combined company's growth, bringing creative visions to life for audiences in more than 200 countries and territories and creating greater opportunities for workers across the entertainment industry.
  • Skydance starts from a position of strength: the most diverse film and television library of any studio, the largest theatrical output in the industry, 200+ million streaming subscribers across platforms, an iconic broadcast network, an unmatched sports portfolio, and a franchise portfolio spanning Top Gun and Harry Potter to White Lotus and SpongeBob SquarePants.
  • Skydance is committed to delivering for the creative community and consumers, with at least 30 theatrical films annually, each with a minimum 45-day theatrical window…
  • Across TV and streaming, Skydance will also continue to support the independent production sector by commissioning content from independent studios and licensing its own content to third parties, creating more opportunities and more jobs for creatives, both in front of and behind the camera.

"Today is a historic day, not just for Skydance but for our entire industry. From the start, our ambition was to bring these two storied studios together and create a stronger competitor, with the talent, resources, and reach to tell great stories in every genre, on every platform, for audiences everywhere. Now that ambition is a reality," Ellison shared in a statement. "We're grateful to everyone who made this possible – the employees, creative talent, and production teams of both companies, who worked tirelessly to get us here and inspire audiences around the world every day, as well as the advisors and partners who guided this transaction to completion. 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."

The deal includes $47 billion in new equity investment in Class B Common Stock, led by the Ellison Family, RedBird, Public Investment Fund (PIF), L'IMAD, Qatar Investment Authority (QIA), and LionTree, priced at $12.00 per share. The debt financing for the transaction was led by Bank of America, Citigroup, and Apollo.

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