Paramount Skydance closes $110 billion takeover of Warner Bros. Discovery

Reuters·7 Oct 2026·

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Summary · why it matters

Paramount Skydance completed its acquisition of Warner Bros. Discovery for $110 billion on Tuesday, October 6, preparing to launch a Hollywood entertainment giant under the Skydance name spanning film, studios, streaming and television. The deal combines legendary film studios behind franchises such as Mission: Impossible, Harry Potter and DC Studios with major television networks and streaming services including CBS, CNN, Paramount+ and HBO Max. David Ellison, CEO of Paramount Skydance, said the merger paves the way for building a media and entertainment company of the future driven by creativity and technology. After the merger, Skydance plans to combine HBO Max and Paramount+ into a single platform, and has pledged to produce at least 30 films a year in the first two years, rising to 32 films a year over the following three years. The new company is expected to carry total debt of about $80 billion, with Ellison pledging to spend at least $30 billion a year on content. Analysts at MoffettNathanson forecast earnings before interest, taxes, depreciation and amortization of $16 billion in 2028, rising to $19 billion in 2030. Revenue is expected to be about $67 billion in 2028 and rise to roughly $70 billion in 2030.

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