The $110B transaction closed on Tuesday after Justice Elena Kagan of the US Supreme Court denied a last-minute emergency appeal to block the deal on Oct 5. Skydance intends to realize $6B in cost savings and plans to eventually merge the HBO Max and Paramount+ streaming platforms into a single service. The acquisition, which included $4B in new equity from RedBird, has already resulted in the repainting of the Warner Bros. tower in New York City to feature Skydance corporate branding.
Wednesday, October 21, 2026
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Skydance Begins Trading With $80B Debt After $110B Media Merger
Business14 days ago
The combined entertainment properties of Paramount and Warner Bros. Discovery have officially consolidated under the ownership of David Ellison. Now trading as $SKYD on the New York Stock Exchange, the launched entity, renamed Skydance, operates with $70B in annual revenue offset by $80B in net debt. Ellison’s ownership brings CNN and CBS News under one corporate umbrella, though he pledged during a network town hall that he will not interfere with editorial independence and supports CNN’s legal challenges against the Trump administration over White House access.
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