It’s official: Paramount and Warner Bros. Discovery are now a single company — joined together as Skydance Corp., led by chairman and CEO David Ellison.
\n\nThe deal, valued at $111 billion, brings together two major studios, TV networks including CBS, CNN, Comedy Central, MTV and TBS, and streaming services Paramount+ and HBO Max. The new Skydance will have annual revenue of nearly $70 billion, the company says — but it also will have to wrestle with $80 billion in net debt.
\n\nThe closing of the deal comes a little more than a year after Ellison’s Paramount Skydance (created in 2025 after his Skydance Media bought Paramount Global) first launched his bid for Warner Bros. Discovery. He encountered numerous obstacles on the way there — including a rival Netflix deal for WB assets and an antitrust lawsuit filed by 12 Democratic attorneys general — but has now prevailed in sealing the deal.
\n\nThe Ellison family — with the multibillion-dollar backing of Larry Ellison, David’s tech-mogul father — holds the largest equity stake in Skydance. The Ellisons and investment firm RedBird Capital Partners together are the sole holders of Paramount Class A common stock, including 100% of the combined company’s voting shares.
Original source: https://variety.com/v/tv/