Paramount Skydance
Post-merger US media company formed from Paramount Global and Skydance Media; acquiring WBD.
Last refreshed: 17 May 2026
- When did Paramount and Skydance merge?
- Paramount Global and Skydance Media completed their merger on 7 August 2025, following FCC approval on 24 July 2025. The combined company trades on Nasdaq as PSKY.Source: Paramount press release / Wikipedia
- Is Paramount Skydance buying Warner Bros. Discovery?
- Yes. Paramount Skydance reached an agreement in early 2026 to acquire WBD for approximately $81 billion. Warner shareholders approved in April 2026; the deal is expected to close in Q3 2026.Source:
Background
Paramount Skydance (formally Paramount, a Skydance Corporation) is the entity created by the merger of Paramount Global and Skydance Media, completed on 7 August 2025 following FCC approval on 24 July 2025. The combined company is listed on Nasdaq under the ticker PSKY. David Ellison, Skydance's founder, chairs and leads the merged entity. The deal was valued at approximately $8 billion and restructured the ownership of CBS, Paramount+, Nickelodeon, MTV, Comedy Central, BET, and the Paramount film studio under a single controlling entity.
In early 2026, Paramount Skydance reached an agreement to acquire Warner Bros. Discovery (WBD) in a deal valued at approximately $81 billion. Warner shareholders approved the transaction in April 2026; the deal requires regulatory approval and is expected to close in Q3 2026. If completed, the merged entity would control CBS, Paramount+, Max, HBO, CNN, Warner Bros. film studio, discovery+, and Cartoon Network, creating one of the largest media conglomerates in US history. WBD's 2026 Upfront advertising innovations — Scene-Level Moments, Shoppable Pause Ads, and Agentic Experiences — are being pitched partly as evidence of the platform's value ahead of that close .