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Paramount wraps up mega Warner Bros merger to create Skydance
nbcnews.com • • general
Key Points:
- Paramount Skydance completed a $110 billion takeover of Warner Bros Discovery, creating a major entertainment company called Skydance under CEO David Ellison's control.
- The merger combines iconic studios like Paramount and Warner Bros, as well as TV and streaming networks including CBS, CNN, Paramount+, and HBO Max.
- The company’s shares moved to the New York Stock Exchange with the ticker “SKYD” after legal settlements cleared regulatory and union hurdles.
- Skydance aims to achieve $6 billion in cost savings primarily through non-labor efficiencies such as integrating streaming technologies, though significant job impacts are expected.
- The combined entity will carry roughly $80 billion in debt, increasing pressure to grow streaming services, maintain cable revenue, and boost theatrical film performance.
