For $110 Billion: Paramount Acquires Warner Bros.

Paramount-Skydance has completed the acquisition of Warner Bros. for $110 billion, a move creating a new media empire led by David Ellison. The merged company, which will trade under the ticker SKYD, will bring together brands such as HBO, CNN, CBS, Nickelodeon, and Comedy Central, and will compete directly with Netflix, Disney, and Amazon.

Paramount-Skydance completed the acquisition of Warner Bros. today (Tuesday) for approximately $110 billion, in a deal that creates a new media and entertainment empire under the name Skydance. The merged company will be led by businessman David Ellison, son of Oracle founder Larry Ellison, who will take control of prominent media assets: Warner Bros. Studios, HBO, CNN, CBS, Paramount+, HBO Max, Comedy Central, Nickelodeon, and DC Studios. The merged company will trade on the New York Stock Exchange under the ticker SKYD. Alongside Ellison, former Mattel CEO Ynon Kreiz will serve as co-CEO, focusing on day-to-day management and integration between the companies. The move places the company in the top tier of entertainment and streaming giants, alongside Netflix, Disney, and Amazon. Ellison said upon completion of the deal: "Today is a historic day, not only for Skydance but for our entire industry."

For $110 Billion: Paramount Acquires Warner Bros.