Back

Paramount Skydance Advances $110 Billion Warner Bros. Discovery Merger

lite News Desk 2 min read

At a glance

  • Paramount Skydance is merging with Warner Bros. Discovery in a deal valued at $110 billion.
  • The combined company will be named “Skydance.”.
  • A judge approved a settlement with 12 state attorneys general, allowing the merger to proceed.

The planned merger between Paramount Skydance and Warner Bros. Discovery represents one of the largest combinations in the media industry, with a total enterprise value of around $110 billion including substantial debt.

David Ellison serves as chairman and CEO of the newly formed Paramount-Skydance entity, which emerged from the merger of Skydance Media and Paramount Global. The company is preparing to operate under the single name “Skydance.”.

To support the transaction, Paramount Skydance secured $54 billion in debt financing commitments from Bank of America, Citigroup, and Apollo. In addition, the company arranged approximately $47 billion in new equity investment, fully backed by the Ellison Family and RedBird Capital Partners.

David Ellison stated that at the time of closing, the merged company’s leverage would be about four times earnings, with a plan to reduce this ratio to below three times and approach two times within two to two and a half years.

What the numbers show

  • The merger is valued at approximately $110 billion in enterprise value.
  • $54 billion in debt financing was secured for the deal.
  • About $47 billion in new equity investment is fully backed by the Ellison Family and RedBird Capital Partners.

A judge approved a settlement between Paramount and 12 state attorneys general, removing a major antitrust barrier and enabling the merger process to move forward. This legal development was a key procedural step in the transaction’s progress.

Paramount Skydance is also considering relocating its headquarters out of California. This consideration follows legal challenges from the California Attorney General related to the merger.

The combined company is expected to consolidate its operations under the Skydance name, reflecting the new corporate structure after the merger with Warner Bros. Discovery. The leadership and financial arrangements have been outlined in official filings and statements from the involved parties.

* This article is based on publicly available information at the time of writing.

More from Companies & Markets

  1. A merger valued at $300 million was completed prior to trading on October 2, 2026, according to reports. The company is now listed on NYSE American.

  2. A company statement details the acquisition of Leaf Creative and Holt Garden Centre, expanding the network to 53 sites, according to reports.

  3. A Bloomberg global government bond index shows a decline of approximately 2.1% since June 2026, marking significant market pressures.

  4. A board resolution concluded the merger plans between AriBio Holdings and AriBio on September 29, 2026, according to reports.

  5. As of 29 September 2026, only 6.8% of shareholders accepted Reabold's offer. The bid period ends at 1:00 p.m. on 2 October 2026, according to reports.