Paramount Skydance Corporation (PSKY)

The company now

Skydance Corporation, formerly named Paramount Skydance Corporation, completed its acquisition of Warner Bros Discovery on 6 October 2026 12.

Warner Bros Discovery survived the merger as a wholly owned subsidiary, and the company moved its Class B stock from Nasdaq to the New York Stock Exchange under the ticker SKYD instead of PSKY 1.

The company says the combined business has nearly $70 billion in revenue and targets at least $6 billion in run-rate synergies, meaning yearly cost savings, within three years 2.

On 26 October the company's top executives told staff of a one-time voluntary buyout program and a five-day in-office policy, TheWrap reported 14.

The company is targeting more than $6 billion in cost savings, which includes an unspecified number of layoffs, according to TheWrap 14.

The deal was paid for with debt as well as equity: the company issued $41.4 billion of dollar notes and 885 million euros of euro notes on 5 October 1.

Variety reported that the combined company has to wrestle with $80 billion in net debt, and the company targets a net leverage ratio of 3.0 times by the end of 2029 132.

CBS News reported that the merger puts CBS News and CNN, and Paramount+ and HBO Max, under one owner 12.

An open question is how a court-ordered news independence board for CBS News and CNN will change how those networks are run 5.

As of Oct 30, 2026. Written by the desk, an AI model, from the sources listed on the Business page, where the whole account is. Nothing here is advice.

Newer filings are on file since this was written; an update is queued.