Paramount and Warner Bros. Discovery operating under Skydance following completion of $111bn merger
Paramount has completed its $111 billion acquisition of Warner Bros. Discovery, with both companies now operating under the name Skydance. Read more
Paramount and Warner Bros. Discovery have merged under the new name Skydance following a $111 billion acquisition. The companies now operate under Skydance, with both co-CEOs Ynon Kreiz and David Ellison addressing their respective roles in a statement to The Hollywood Reporter. Kreiz expressed optimism about developing new businesses, products, games, and experiences, while Ellison warned of the need for "difficult decisions" in the integration process.
Skydance has targeted over $6 billion in synergy savings, primarily through technology, integration, procurement, marketing, and real estate rationalization. The merger has brought Warner's intellectual property, including Avalanche Software, Portkey Games, NetherRealm, Rocksteady, and TT Games, under Skydance's ownership.
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