Media Giants Paramount and Warner Bros. Combine Under Rebranded Skydance Name
New York, Friday, 2 October 2026.
Following a massive $110 billion deal, Paramount and Warner Bros. Discovery will unite under the corporate name Skydance on October 6, 2026, creating an unprecedented Hollywood entertainment powerhouse.
Media Giants Paramount and Warner Bros. Combine Under Rebranded Skydance Name
Following a massive $110 billion deal, Paramount and Warner Bros. Discovery will unite under the corporate name Skydance on October 6, 2026, creating an unprecedented Hollywood entertainment powerhouse [1][2]. Skydance Media has officially finalized its merger with Paramount Global, creating Paramount, a Skydance Corporation, which begins trading on the Nasdaq exchange under the ticker symbol PSKY on October 2, 2026 [4][6]. The transaction marks a significant consolidation landmark in the legacy media and streaming landscape, positioning the company to streamline operations and enhance its competitive posture against rival entertainment conglomerates [2][4]. This development builds upon previous reports that former Mattel CEO Ynon Kreiz would partner with David Ellison to manage global operations and business integration [6].
Strategic Rebranding and Market Position
CEO David Ellison announced that upon closing the merger with Warner Bros. Discovery next week, the combined entity will be named Skydance [1][5]. Ellison noted the new name allows the company to preserve Paramount and Warner Bros. as distinct studios while equipping them with a more powerful engine for bold storytelling [1][2]. The merged company will trade under the new ticker SKYD following the October 6 closing, transitioning from the current PSKY symbol used by Paramount Skydance Corporation [1][3]. Ellison emphasized that the new corporate identity aims to give the combined company an identity of its own while allowing all extraordinary brands to remain in the spotlight [2][5].
Financial Mechanics and Closing Timeline
The merger agreement, dated February 27, 2026, is expected to close on October 6, 2026, subject to customary closing conditions [3]. Upon the effective time of the merger, each share of Warner Bros. Discovery common stock will be converted into the right to receive an amount in cash equal to $31.00 plus an accrual component [3]. The accrual is calculated as $0.00277778 multiplied by the number of calendar days elapsed after September 30, 2026, resulting in a total accrual of 0.017 per share for the six days elapsed until the anticipated closing date [3]. This financial structure underscores the precision required in large-scale media acquisitions valued at roughly $110 billion on an enterprise basis [1][2].
Leadership and Regulatory Landscape
Upon closing, Ellison and outgoing Mattel CEO Ynon Kreiz will serve as co-CEOs of the newly combined entity [1][6]. The deal faced legal challenges, including an antitrust lawsuit brought by a group of state attorneys general, which was settled earlier in September 2026 [1][2]. The settlement, laid out in a 5-year consent decree, requires separation of operations in several business areas to guard against one of the major studios being dissolved [2]. This regulatory clearance paves the way for the new Skydance to release 35 films next year according to data from Rentrak, leveraging the combined libraries of Paramount and Warner Bros. [1].