Paramount and Warner Bros. Discovery are set to operate under a new parent company, Skydance Corporation, once Paramount Skydance’s acquisition of Warner Bros. Discovery is completed on October 6, 2026. The approximately $110 billion transaction would create one of the world’s largest media and streaming groups.
David Ellison will remain chairman and CEO of the combined group, while Ynon Kreiz will serve as co-CEO. Kreiz is expected to oversee daily operations and the integration of Paramount and Warner Bros. Discovery.
The Skydance name, drawn from the production company Ellison founded about two decades ago, will become the corporate identity. Paramount and Warner Bros. will continue to be used for their respective studios and operations. Skydance Class B shares are due to move from Nasdaq to the New York Stock Exchange under the ticker SKYD.
The new parent company will encompass major television, film and streaming brands, including:
- CBS
- CNN
- HBO
- MTV
- Discovery
- Comedy Central
- Paramount+
- HBO Max
Its content portfolio will also span several major franchises and entertainment properties:
- Harry Potter
- The Lord of the Rings
- Game of Thrones
- DC
- Yellowstone
- Mission: Impossible
- Top Gun
- Nickelodeon productions and characters
Netflix had reportedly pursued Warner Bros. Discovery’s studios and streaming operations in an earlier proposal worth about $82 billion, but withdrew after Paramount made the higher offer. The scheduled closing on October 6, 2026 is the next key milestone for the formation of Skydance Corporation.
