Skydance Merger Closes With Ellison At Helm
Skydance merger closed Oct. 6, 2026, creating a combined media company; the deal's scale will reshape streaming, broadcast and sports exposure for investors.
KEY TAKEAWAYS
- Merger closed Oct. 6, 2026, creating a combined company named Skydance.
- Transaction valued at approximately $110.0 billion per the companies.
- David Ellison to serve as chairman and CEO with Ynon Kreiz as co-CEO overseeing integration.
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The Skydance merger closed on October 6, 2026, Paramount Skydance said, creating a combined company led by David Ellison with Ynon Kreiz as co‑CEO. The deal consolidates film studios, streaming services, television networks, news operations and sports assets.
Deal Closed October 6
Paramount Skydance announced the merger with Warner Bros. Discovery had closed, forming the combined company named Skydance. The transaction was valued at approximately $110 billion. The merger agreement among Warner Bros. Discovery, Paramount Skydance and Prince Sub Inc. was signed on February 27, 2026. The companies had announced on September 30 that October 6 was the expected closing date, subject to customary conditions.
The deal creates a major media conglomerate by combining content production, library rights and distribution channels under one corporate roof, reshaping competition across streaming, broadcast and sports rights.
Leadership and Assets
On October 5, 2026, David Ellison and Ynon Kreiz announced the CEO leadership team for Skydance. Ellison will serve as chairman and chief executive officer, focusing on long-term strategy, creative vision, talent relationships, strategic partnerships, technology and capital allocation. Kreiz will act as co‑CEO, overseeing day-to-day management and integration of the combined businesses. The company said this structure aims to support coordination across the merged operations.
The combined portfolio includes two major film studios, streaming services Paramount+ and HBO Max, broadcast and cable brands such as CBS and CNN, television and cable networks, news operations, sports assets, extensive programming libraries and established entertainment franchises. Paramount Skydance described the merger as building on the histories of two of the world’s most recognizable entertainment companies to form a single creative powerhouse.
Legacy securities for the pre-closing companies were PSKY and WBD. The combined company is expected to trade on the New York Stock Exchange under the symbol SKYD.
