Skydance Closes Acquisition of Warner Bros Discovery and Paramount

Skydance Corporation officially completed its merger of Paramount and Warner Bros. Discovery on October 6, 2026, according to Variety and Wikipedia. The Hollywood Reporter, Variety, and Deadline reported that Skydance chief executive officer David Ellison host of a press event and issued a staff memo to celebrate the deal. [1][2][3][5][8]

Outlets differed slightly on the transaction's value and debt load. Variety reported that the deal was valued at $111 billion including assumed debt, while The Hollywood Reporter cited $110 billion in acquired assets and noted $80 billion in debt. In a memo to staff, David Ellison and co-chief executive officer Ynon Kreiz thanked employees for their patience during the year-long acquisition process, Deadline reported. [1][2][3][7]

The combined company brings together historic Hollywood entities, including Warner Bros., Paramount Pictures, HBO, CNN, and CBS. According to IndieWire, Ellison aims for Skydance film chiefs Josh Greenstein and Dana Goldberg to deliver 30 theatrical movies annually. Skydance Corporation is headquartered in New York City with major operations in Los Angeles and Atlanta. [1][3][4][8]

As FTMQ Books reported earlier, David Ellison announced the senior leadership team for the merged firm ahead of the closing, bringing on former Warner Bros. Discovery executives Casey Bloys, Mark Thompson, and JB Perrette. The merger creates one of the largest mass media conglomerates in the entertainment industry. [8][10]