The $110 billion megamerger between Paramount Skydance and Warner Bros. Discovery officially closes today, October 6, 2026, following the denial of a last-minute attempt to block the deal by Supreme Court Justice Elena Kagan. The combined media giant will operate under the corporate name Skydance.
The company brings together two major film studios, two streaming services, a television portfolio including CBS, HBO, and Paramount’s and WBD’s cable networks, CBS News and CNN, and a portfolio of live sports including CBS Sports and TNT Sports, as well as a programming library and expansive collection of brands and franchises.
WBD’s common stock has ceased trading on the Nasdaq Exchange, effective today. The Ellison Family holds the largest equity stake in Skydance, and the Ellison Family and RedBird Capital Partners together are the sole holders of Paramount Class A Common Stock, including 100 percent of the combined company’s voting shares.
Yesterday, Skydance announced its new leadership structure, with Paramount chairman and CEO David Ellison serving as chairman and CEO and former Mattel CEO Ynon Kreiz becoming Co-CEO. Andy Gordon will serve as president.
Movie business will be headed by Dana Goldberg and Josh Greenstein, previously co-chairs of Paramount Pictures. James Gunn and Peter Safran will continue as co-heads of DC Studios.
George Cheeks, previously chair of TV media at Paramount Skydance, is co-chair and chief content officer of Skydance TV.
Casey Bloys, who has headed up HBO and HBO Max, will become co-chair and chief content officer, Skydance DTC streaming.
JB Perrette (previously Warner Bros. Discovery’s CEO and president of global streaming and games) is co-chair and chief business officer of both Skydance TV and Skydance DTC.
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