Entertainment
Paramount completes Warner Bros. takeover, creating Skydance
The completed acquisition brings Paramount, Warner Bros., CBS, CNN, HBO Max, Paramount+ and other major entertainment businesses under one company.
Paramount completed its acquisition of Warner Bros. Discovery on October 6, creating a combined company named Skydance Corporation. The Associated Press values the cash takeover at $81 billion, while Paramount’s announcement describes the transaction at about $110 billion in enterprise value.
What changes
Skydance is led by co-chief executives David Ellison and Ynon Kreiz. Its Class B shares began trading on the New York Stock Exchange under the ticker “SKYD,” while the Paramount and Warner Bros. studio brands remain in use. The combined portfolio also includes CBS, CNN, Discovery, HBO Max and Paramount+.
Why it matters locally
The deal joins two major Southern California studio operations and further concentrates film, television, news and streaming assets within a single company. A settlement with California and 11 other states included production-spending and displaced-worker commitments; the site’s earlier coverage explains those terms.
Earlier SoCal Reporters coverage: Merger settlement and production commitments →
Original reporting and official details: Associated Press → • Paramount announcement →