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Skydance Completes Blockbuster $110 Billion Takeover of Warner Bros Discovery
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CNBC TV18•06-10-2026, 19:39
Skydance Completes Blockbuster $110 Billion Takeover of Warner Bros Discovery
- •Skydance finalized its massive $110 billion acquisition of Warner Bros Discovery on Tuesday, creating a new Hollywood heavyweight led by CEO David Ellison.
- •The merger unites major franchises like Mission Impossible, Harry Potter, and DC Studios alongside networks such as CBS, CNN, Paramount+, and HBO Max.
- •Trading for the combined company has moved to the New York Stock Exchange under the ticker symbol SKYD.
- •Leadership has appointed former Mattel CEO Ynon Kreiz as co-CEO to manage day-to-day operations and integration while targeting $6 billion in cost savings.
- •Plans are underway to merge HBO Max and Paramount+ into a single streaming service while releasing at least 30 films annually in the first two years.
Key Questions Answered
Following the $110 billion takeover, the combined Hollywood heavyweight is called Skydance, and its shares moved to the New York Stock Exchange to trade under the ticker symbol "SKYD".
David Ellison named former Mattel CEO Ynon Kreiz as Skydance co-CEO to manage day-to-day operations and direct the integration process, while Ellison retains control over creative direction and overall strategy.
Skydance plans to combine its streaming services, including HBO Max and Paramount+, into a single unified service as part of its strategy to achieve $6 billion in planned cost savings.
