Paramount-Warner Bros. Discovery merger closes after nearly yearlong battle, paving the way for Skydance

Yahoo Finance • October 6, 2026 • entertainment

Key Points:

The $110 billion merger of Paramount Skydance and Warner Bros. Discovery, forming the new company Skydance, closed after Supreme Court Justice Elena Kagan denied a last-minute effort to block the deal.
Skydance unifies HBO Max and Paramount+ streaming services, with plans to merge all direct-to-consumer streaming platforms into a single service over time.
The combined company boasts a vast entertainment portfolio including franchises like "Sopranos," "Harry Potter," and networks such as CBS, CNN, Nickelodeon, and MTV.
Leadership includes co-CEOs David Ellison and Ynon Kreiz, with key executives from both legacy companies retaining or advancing in roles, while Warner Bros. Discovery CEO David Zaslav is set to receive approximately $886.8 million.
The merger faced antitrust scrutiny, resulting in a settlement requiring the release of at least 30 films in theaters annually, with financial penalties for non-compliance; despite objections, the merger was allowed to proceed.

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