Paramount Skydance to Acquire Warner Bros. Discovery

Paramount Skydance Completes Acquisition of Warner Bros. Discovery

October 6, 2026

Media & Entertainment

Paramount Skydance completed its acquisition of Warner Bros. Discovery, Inc. for cash consideration of approximately $31.02 per WBD share, forming a combined company named Skydance. The combination brings together major film studios, streaming services, television and news networks, sports assets, and entertainment franchises, with the stated aim of building a scaled global media competitor.

Paramount Skydance Acquires Warner Bros. Discovery, Inc.

June 26, 2026

Media & Entertainment

Paramount Skydance Corporation, subsequently renamed Skydance Corporation, acquired Warner Bros. Discovery, Inc. The acquisition was consummated on October 6, 2026, bringing Warner Bros. Discovery’s media and entertainment businesses into Skydance’s global portfolio.

Warner Bros. Discovery stockholders approve merger with Paramount Skydance

April 23, 2026

Media & Entertainment

Warner Bros. Discovery announced that its stockholders voted to approve the previously announced transaction with Paramount Skydance at a special meeting held the same day. The transaction remains subject to customary closing conditions and is expected to close in Q3 2026.

Paramount Global to Merge with Warner Bros. Discovery in Definitive Deal

March 24, 2026

Media & Entertainment

Paramount Global and Warner Bros. Discovery have finalized a definitive merger agreement to create a combined media and streaming company with an enterprise value of about $170 billion. The deal is positioned as a scale play to compete with Netflix and other Big Tech ecosystems, leveraging content libraries and technology (including Oracle cloud infrastructure) to build a “must-have” subscription offering.

Paramount Acquires Warner Bros. Discovery

February 27, 2026

Media & Entertainment

Paramount Skydance Corporation agreed to acquire 100% of Warner Bros. Discovery for $31 per share in cash, valuing WBD at approximately $110 billion in enterprise value. The agreement was announced on February 27, 2026, and the acquisition closed on October 6, 2026, combining the companies’ studios, streaming services, and television businesses.

Paramount Skydance launches all-cash tender offer to acquire Warner Bros. Discovery

December 8, 2025

Media & Entertainment

Paramount Skydance commenced an unsolicited all-cash tender offer to acquire all outstanding shares of Warner Bros. Discovery for $30 per share. The offer covers WBD in its entirety (including the Global Networks segment) and is framed by Paramount as a more certain, higher-value alternative to WBD’s existing Netflix transaction.