Paramount and Warner Bros. Studios Merge Under New Skydance Corporation Name

The newly formed media conglomerate resulting from the merger of Paramount Studios and Warner Bros. Discovery will operate under the name Skydance Corporation, according to an announcement by incoming CEO David Ellison. The deal, valued at approximately $111 billion, is expected to be finalized on October 6. David Ellison will serve as chairman and CEO of the merged company. He will be joined by Israeli-American businessman Yinon Kreiz, former CEO of Mattel, as co-CEO, effective October 5.

Upon completion of the merger, the company will transfer its stock listing from NASDAQ to the New York Stock Exchange, where it will trade under the ticker symbol "SKYD." The new corporation will unite two major Hollywood film studios and the streaming services HBO Max and Paramount+. Its asset portfolio includes leading television networks such as CBS, CNN, MTV, and Comedy Central. Key brands and franchises under its management will include "Harry Potter," "The Lord of the Rings," "Game of Thrones," DC Universe content, and the "Mission: Impossible" and "Top Gun" film series.

The merger proceeds after a federal court approved a settlement in an antitrust lawsuit filed by 12 U.S. states earlier this week. The financial structure of the transaction involves significant debt financing and bond issuance, with the merged entity projected to begin operations with over $80 billion in accumulated debt. Control of the company will be held by David Ellison, his father Larry Ellison (founder of Oracle), and Gerry Cardinale of RedBird Capital. Larry Ellison provided a personal guarantee for $46.7 billion in equity financing. Additionally, sovereign wealth funds from Saudi Arabia, Qatar, and the UAE have invested approximately $24 billion in the deal, acquiring a 38.5% stake in the combined company.