Skydance Corp. has officially closed its $111 billion acquisition of Warner Bros. Discovery, forming a new entity led by co-CEOs David Ellison and Ynon Kreiz. The transaction, which follows extensive regulatory review and antitrust litigation, results in the delisting of WBD shares and the commencement of trading for the new company under the symbol SKYD.
The completion of this deal consolidates iconic film and television assets, including HBO and DC Studios, under a single private-equity-backed leadership structure. By integrating Paramount and Warner Bros. Discovery assets, Skydance Corp. gains the scale necessary to compete directly with Netflix, though it must navigate a massive $80 billion debt load. The inclusion of significant Middle Eastern sovereign wealth and a 49.5% foreign ownership cap for broadcast assets signals a shift in how major Hollywood studios are financed. Watch for the new leadership team's first quarterly report to see how they prioritize debt reduction against content spending for the Skydance DTC platform.
On October 6, 2026, Skydance Corp. finalized its $111 billion acquisition of Warner Bros. Discovery, delisting WBD from the Nasdaq and debuting on the NYSE as SKYD. This merger consolidates major assets like HBO and DC Studios, creating a media powerhouse tasked with managing an $80 billion debt load while competing against Netflix.
The new media giant is led by co-CEOs David Ellison and Ynon Kreiz.
The company is listed on the New York Stock Exchange under the ticker symbol SKYD.
Following the all-cash acquisition, the new entity carries approximately $80 billion in debt.
Casey Bloys and JB Perrette will serve as co-chairs of the Skydance DTC streaming division, overseeing HBO and Max assets.
Foreign sovereign wealth funds from Saudi Arabia, Qatar, and Abu Dhabi hold 38.5% of the equity in the combined company.
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