Paramount has completed its $110 billion acquisition of Warner Bros. Discovery, creating a newly combined global entertainment company under the name Skydance.
The transaction brings together major film, television and streaming assets, including Paramount+ and HBO Max, alongside brands such as CBS, MTV, TBS, Comedy Central and Food Network.
Skydance will also oversee an extensive portfolio of globally recognized entertainment franchises, including The Lord of the Rings, Game of Thrones, the DC Universe and Yellowstone. The combined company is expected to generate nearly $70 billion in annual revenue.
David Ellison will lead the new organization, expanding Skydance's position across theatrical production, television, streaming and consumer entertainment. The Ellison family remains the company's largest shareholder, supported by Oracle co-founder Larry Ellison.
Skydance Class B shares are set to trade on the New York Stock Exchange under the ticker SKYD. The merger signals a new phase for large-scale entertainment, combining established studios, major franchises and digital distribution platforms within a single creative ecosystem.
This expanded structure could reshape how global audiences discover stories, as entertainment companies increasingly connect premium content, streaming technology and iconic intellectual property.
