Paramount Skydance completed its $110 billion acquisition of Warner Bros Discovery on October 6, creating one of the world's largest entertainment companies. The deal places Skydance CEO David Ellison in control of a vast portfolio including Paramount, Warner Bros, HBO Max, CBS, CNN, and DC Studios. Shares of the combined company began trading on the New York Stock Exchange under the ticker "SKYD" on the same day, according to livemint.com.
The transaction closed after Paramount Skydance settled legal challenges from a coalition of US states and a Hollywood writers union, which had threatened to delay the merger. The deal unites major entertainment brands and franchises such as Mission: Impossible and Harry Potter under one corporate umbrella. Ellison said the Skydance name was chosen to maintain the separate identities of Paramount and Warner Bros studios, rather than merging them into a single brand.
This acquisition comes amid challenges for traditional media companies, including declining cable-TV subscriptions and intense competition in the streaming market. The combined company will operate across theatrical films, television production, streaming services, news, and cable networks, positioning it as a major player in the evolving entertainment landscape. The merger reflects ongoing consolidation trends in Hollywood as firms seek scale to compete with digital platforms.
The newly merged entity’s shares started trading on the NYSE on October 6 under the ticker "SKYD," marking the official start of operations for the combined company. David Ellison now leads the expanded group, which controls some of the most valuable entertainment assets globally.