Skydance Closes Paramount-Warner Bros. Discovery Merger, CEOs Outline Priorities
Skydance CEO David Ellison and Co-CEO Ynon Kreiz thanked staff for their patience and warned of difficult workforce decisions in a memo after closing the Paramount-Warner Bros. Discovery merger.
Skydance has closed its merger of Paramount and Warner Bros. Discovery, the company announced on October 6, 2026. CEO David Ellison and Co-CEO Ynon Kreiz marked the completion by sending a memo to employees, according to Deadline.
In the memo, the executives thanked staff for their patience throughout the year-long process and set out the priorities for the combined company. These include preserving the two companies' legacies, earning trust, pursuing creative excellence and becoming the most technologically capable media company.
Ellison and Kreiz also told employees that integrating the two businesses will bring change, including difficult decisions affecting the workforce. They explained that the Skydance name was chosen because it does not compete with either legacy and gives the new company its own identity.
The deal had been in the works for about a year and faced fierce opposition before closing. It leaves Skydance with an $80 billion mountain of debt, while the merger is projected to deliver $6 billion in cost savings. The combined company is positioned to compete with Netflix, Disney and Amazon.
Quick answers
When did Skydance close its merger of Paramount and Warner Bros. Discovery?
The merger closed on October 6, 2026.
Who sent the memo to employees after the merger closed?
Skydance CEO David Ellison and Co-CEO Ynon Kreiz sent the memo.
What did the memo say about the workforce?
It said integrating the two companies will bring change, including difficult decisions affecting the workforce.