Skydance Corporation

What does Skydance Corporation own?
Skydance Corporation owns Paramount Pictures, Warner Bros. studios, CBS, CNN, Paramount+, HBO Max, HBO, Pluto TV, MTV, Nickelodeon, Comedy Central, BET, Showtime, Discovery Channel, HGTV, Food Network, TLC, DC Comics, and Skydance's Animation, Film, Television, Interactive/Games, and Sports divisions. The company acquired the Warner Bros. Discovery portfolio on October 6, 2026.

Is Skydance Corporation publicly traded?
Yes, Skydance Corporation is publicly traded on the New York Stock Exchange under the ticker symbol SKYD. The listing moved from Nasdaq, where it previously traded as PSKY, on October 6, 2026, the day the WBD acquisition closed.

Who runs Skydance Corporation?
David Ellison and Ynon Kreiz serve as co-CEOs. Ellison founded Skydance Media in 2010, led the 2025 merger with Paramount Global, and drove the WBD acquisition. Kreiz joined from Mattel, where he was credited with the toymaker's turnaround and its expansion into entertainment, including the 2023 Barbie film. Bari Weiss oversees CBS News and Mark Thompson oversees CNN within the new structure.

What happened to the Redstone family's control of Paramount?
The Redstone family, which controlled Paramount Global for decades through National Amusements' holdings of super-voting Class B shares, sold its stake as part of the Skydance merger transaction that closed on August 7, 2025. National Amusements no longer holds a controlling position in the company. Shari Redstone received cash for her National Amusements stake.

How many subscribers does Paramount+ have?
Paramount+ ended 2025 with 79 million paid subscribers. In Q4 2025, Paramount+ revenue grew 17% year over year to $1.837 billion, with ARPU increasing 10%. The company plans to combine Paramount+ and HBO Max into a single streaming platform following the WBD acquisition.

What was the Warner Bros. Discovery acquisition?
On February 27, 2026, Paramount announced a definitive agreement to acquire Warner Bros. Discovery for $31 per share in cash, valuing WBD at $81 billion in equity value and $110 billion in enterprise value. The transaction was backed by $47 billion in equity from the Ellison family and RedBird Capital Partners and $54 billion in debt commitments. After UK CMA clearance and a state attorneys general settlement, the deal closed on October 6, 2026, and the combined company was renamed Skydance.

What is Skydance Corporation's revenue?
For full year 2025, the predecessor company reported total revenue of approximately $28.9 billion, combining the predecessor period (January 1 to August 6) revenue of $16.6 billion and the successor period (August 7 to December 31) revenue of $12.3 billion. Warner Bros. Discovery reported FY2025 revenue of approximately $37.3 billion on a standalone basis.

Where is Skydance Corporation headquartered?
Skydance Corporation maintains its primary corporate offices in Los Angeles, California, and New York, New York. The company has production facilities and operations in multiple locations including Hollywood, Burbank, Atlanta, London, and other global entertainment hubs.

The company's origins trace back to the media empire built by Sumner Redstone, who controlled both Viacom and CBS through National Amusements. Viacom and CBS were originally part of the same company before being split into separate entities in 2006. Viacom focused on cable networks (MTV, Nickelodeon, Comedy Central) and Paramount Pictures, while CBS operated the broadcast network, television production, and publishing.

In December 2019, Viacom and CBS Corporation reunited in a merger valued at approximately $12 billion, creating ViacomCBS with Bob Bakish as CEO. The merger aimed to create the scale necessary to compete in streaming against Netflix, Disney, and Amazon. The combined company brought together CBS's broadcast reach and news operations with Viacom's cable networks and Paramount Pictures' film library.

In February 2022, the company rebranded from ViacomCBS to Paramount Global, emphasizing the Paramount brand's global recognition and streaming ambitions. The rebranding coincided with increased investment in Paramount+ and the launch of a unified streaming strategy.

By 2023, Paramount Global faced significant pressure. Linear television revenue was declining, streaming losses were mounting, and the company's film slate was underperforming. Shari Redstone, who controlled the company through National Amusements, began exploring strategic options including a potential sale.

In 2024, Skydance Media, led by David Ellison (son of Oracle founder Larry Ellison), emerged as a bidder for Paramount Global. After months of negotiations that included competing offers and deal restructuring, Skydance and Paramount Global announced a definitive merger agreement in July 2024. The transaction closed on August 7, 2025, with Paramount Skydance Corporation becoming the publicly traded holding company. The Ellison family and RedBird Capital Partners provided equity backing, and the Redstone family sold its National Amusements stake, ending decades of Redstone control over the media properties.

David Ellison became Chairman and CEO, bringing Skydance's film, television, animation, and interactive divisions into the combined company. The new leadership team quickly moved to restructure operations, consolidate content creation, and focus on streaming profitability. In Q1 2026, the company transitioned to a new reporting structure with three segments: Studios, Direct-to-Consumer, and TV Media.

On February 27, 2026, Paramount announced a definitive agreement to acquire Warner Bros. Discovery for $31 per share in cash, valuing WBD at $81 billion in equity value and $110 billion in enterprise value. The transaction was unanimously approved by both boards. The deal was backed by $47 billion in equity from the Ellison family and RedBird Capital Partners and $54 billion in debt commitments from Bank of America, Citigroup, and Apollo. The UK Competition and Markets Authority cleared the acquisition on August 6, 2026, and a settlement with state attorneys general resolved the final U.S. antitrust challenge in September. Supreme Court Justice Elena Kagan rejected a last-ditch effort to block the deal.

The acquisition closed on October 6, 2026. WBD shareholders received $31.00 per share in cash plus ticking consideration of $0.00277778 per day accrued after early September. The company transferred its listing from Nasdaq to the New York Stock Exchange, changed its ticker from PSKY to SKYD, and formally renamed itself Skydance Corporation. Ellison said the name change allows Paramount and Warner Bros. to remain distinct brands under the corporate parent. On October 5, Ellison and co-CEO Ynon Kreiz announced the leadership team, with Bari Weiss overseeing CBS News, Mark Thompson overseeing CNN, and Casey Bloys, George Cheeks, and JB Perrette heading streaming and television. The company committed to at least 30 theatrical films per year and more than 180 television shows and series, with at least $6 billion in run-rate synergies targeted within three years.

Paramount has implemented sustainability and ESG initiatives focused on environmental responsibility, social impact, and ethical business practices. The company's Peak Sustainability strategy, particularly advanced in UK operations, includes a Sustainability Board that holds senior management accountable for environmental goals, employee-led sustainability working groups, and training programs.

Environmental initiatives focus on carbon reduction targets, sustainable production practices, and renewable energy adoption. Paramount UK has implemented electric vehicle loan schemes for London-based employees and considers environmental impact when selecting suppliers and partners. The company has developed sustainable production guidelines to reduce the environmental impact of film and television production and reports on Scope 3 emissions.

The company publishes annual ESG reports covering On-Screen Content & Social Impact, Workforce & Culture, and Sustainable Production & Operations. Social impact initiatives include diversity and inclusion programs, employee resource groups, and content addressing social issues.

The Skydance merger and the completed WBD acquisition raise questions about the company's sustainability commitments going forward, as corporate combinations typically lead to revised ESG strategies. The new leadership has not yet published an updated sustainability framework for the combined company.

The Skydance merger process itself was controversial. In 2024, when the merger was being negotiated, Paramount Global faced a competing bid from a group led by Apollo Global Management. Shari Redstone's preference for the Skydance deal over the Apollo bid, which offered a higher premium for Class A shareholders, drew criticism from some investors. The dual-class share structure, which gave Redstone controlling voting power through National Amusements despite owning a minority economic stake, was a point of contention throughout the process.

The Warner Bros. Discovery acquisition attracted significant regulatory scrutiny. The $110 billion deal created one of the largest media companies in the world, combining two major Hollywood studios, two major streaming platforms, and extensive television network portfolios. The UK Competition and Markets Authority cleared the acquisition on August 6, 2026, a settlement with state attorneys general resolved the remaining U.S. challenge in September 2026, and Supreme Court Justice Elena Kagan rejected a last-ditch effort to block the deal. The acquisition closed on October 6, 2026.

Paramount has faced content-related controversies, including criticism from various political perspectives regarding news coverage on CBS and programming decisions on streaming platforms. The company's NFL broadcasting rights and sports programming have drawn regulatory attention regarding market dominance and competitive access to live sports content.

The company has also faced labor disputes with unions representing writers, actors, and production staff. The 2023 Hollywood strikes affected Paramount's production schedule and content pipeline, and the company has faced criticism regarding workplace culture and diversity representation across its business units.