Paramount-Warner Bros. $111 Billion Merger Officially Closes: ‘Today Is a Historic Day, Not Just for Skydance but for Our Entire Industry,’ David Ellison Says

Oct 6, 2026 6:02am PT Paramount-Warner Bros. $111 Billion Merger Officially Closes: ‘Today Is a Historic Day, Not Just for Skydance but for Our Entire Industry,’ David Ellison Says

By Todd Spangler

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Todd Spangler

NY Digital Editor

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• Paramount-Warner Bros. $111 Billion Merger Officially Closes: ‘Today Is a Historic Day, Not Just for Skydance but for Our Entire Industry,’ David Ellison Says 58 minutes ago
• David Zaslav Bids Farewell to Warner Bros. Employees in Video on Eve of Skydance Merger Close: ‘It’s Been a Great Honor to Be Alongside All of You’ 18 hours ago
• David Ellison Names Skydance Corp.’s New Leadership Team for Movies, TV, Streaming and More 1 day ago

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Getty Images; Courtesy of Skydance Corp.

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.

The 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.

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