Paramount closes $110bn Warner Bros. Discovery deal: what Skydance now owns

Paramount's $110 billion acquisition of Warner Bros. Discovery closed on October 6, 2026, the company said, completing a deal that places major studios, streaming services, news networks and cable assets under a single corporate roof.

The combined company is called Skydance. One report identifies the corporate entity as Skydance Corporation, trading under the ticker SKYD. The sources vary between the shorter name and the corporate form; both refer to the same company.

The assets now inside that company include the Paramount+ and HBO Max streaming services, the CBS and CNN news networks, and film and television businesses. The company said its direct-to-consumer services will unify into a single service over time.

Those figures are the company's own announced floors. Whether it meets them will be measured against actual releases, and the available reporting does not establish how the merger will affect the company's finances or its ability to deliver on those commitments.

The deal's significance is not only the size of the combined library. It concentrates two major streaming services, two news networks and a broad cable portfolio in one owner, leaving Skydance to show how it will manage those businesses together. For audiences, the concrete point to watch is the promised unification of the streaming services — when it happens, what it carries, and what it costs.

David Ellison, identified as Paramount's CEO and chairman before the merger, is described as leading the combined company. The sources do not establish the current top executive titles at Warner Bros. Discovery as of October 2026.

- https://www.cnbc.com/2026/10/06/paramount-wbd-deal-timeline.html - https://finance.yahoo.com/markets/stocks/article/paramount-warner-bros-discovery-merger-closes-after-nearly-yearlong-battle-paving-the-way-for-skydance-114120057.html - https://finance.yahoo.com/media-advertising/articles/paramount-completes-acquisition-warner-bros-173601221.html - https://finance.yahoo.com/media-advertising/articles/paramount-closes-historic-110b-deal-162629208.html - https://finance.yahoo.com/media-advertising/articles/paramount-completes-acquisition-warner-bros-123800945.html