Skydance Corp. begins NYSE trading after $111B Paramount-WBD merger
Class B shares trade under SKYD as Paramount and Warner Bros. Discovery combine CBS, CNN, MTV, Paramount+ and HBO Max into one company led by David Ellison.
Paramount and Warner Bros. Discovery have closed their $111 billion merger and now operate as a single company, Skydance Corp., led by chairman and CEO David Ellison. Skydance Class B shares began trading on the New York Stock Exchange under the ticker symbol SKYD, according to Variety.
The combined company brings together CBS, CNN, Comedy Central, MTV, TBS, Paramount+ and HBO Max. Skydance said the new company will have annual revenue of nearly $70 billion and about $80 billion in net debt.
Warner Bros. Discovery shareholders received $31.01666668 per share in cash, and WBD shares ceased trading on Nasdaq. Ynon Kreiz, former CEO of Mattel, was hired to run the company as co-CEO.
Skydance said Paramount+ and HBO Max will be merged into a single service over time.
Background
In 2025, David Ellison's Skydance Media bought Paramount Global, creating Paramount Skydance. A little more than a year before the closing, Paramount Skydance launched its bid for Warner Bros. Discovery, a process during which Netflix made a rival deal for Warner Bros. Discovery assets. The merger was funded with $47 billion of investment in Class B common stock priced at $12 per share, led by Larry Ellison, RedBird Capital Partners, LionTree and the sovereign wealth funds of Saudi Arabia, Qatar and Abu Dhabi, with debt financing led by Bank of America, Citigroup and Apollo Global Management.
Quick answers
What is Skydance Corp.'s ticker symbol?
Skydance Class B shares trade on the New York Stock Exchange under the ticker symbol SKYD.
What happened to Paramount+ and HBO Max?
Skydance said the two streaming services will be merged into a single service over time.
Who leads the combined company?
David Ellison is chairman and CEO, and Ynon Kreiz, former CEO of Mattel, was hired as co-CEO.