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Skydance Corporation
Skydance
TypePublic
Industry
Predecessors
FoundedOctober 6, 2026
FounderDavid Ellison
Headquarters
Area served
Worldwide (except Russia, Belarus and North Korea)
Key peopleDavid Ellison (chairman and co-CEO)
Ynon Kreiz (co-CEO)
Products
  • films
  • music
  • television shows
  • web portals
  • movie theaters
  • video games
Brands
List
SubsidiariesList of assets owned by Skydance Corporation
Websiteskydance.com

Skydance Corporation (trading as Skydance) is an upcoming American multinational mass media and entertainment conglomerate scheduled to be formed through the merger of Paramount Skydance and Warner Bros. Discovery. The company is expected to be headquartered in Los Angeles, California, as both film studios are located in Los Angeles, with major operations in New York City and Atlanta. The transaction is scheduled to close on October 6, 2026, subject to the satisfaction of customary closing conditions.

The company will be led by David Ellison, who will serve as chairman and chief executive officer, and Ynon Kreiz, who will serve as co-chief executive officer. Ellison will oversee the company's long-term strategy, creative direction, technology, talent relationships, strategic partnerships and capital allocation, while Kreiz will oversee day-to-day operations and integration of the combined businesses. The company is named after Ellison's defunct production company Skydance Media, using the same name and logo.

The company will combine the assets of Paramount Skydance and Warner Bros. Discovery, bringing together major film studios, television networks, streaming services, news organizations and entertainment franchises. Its portfolio will include Paramount Pictures, Warner Bros. Pictures, Skydance Animation, CBS, CNN, HBO Max, Paramount+, Nickelodeon, Cartoon Network, Discovery, TNT Sports, Warner Bros. Games, and many other businesses and brands, alongside intellectual property for some of the most popular and highest-grossing media franchises of all time, including Warner Bros.' Looney Tunes, Scooby-Doo, Tom and Jerry, The Flintstones, Friends, The Dukes of Hazzard, the Wizarding World, the DC Universe, The Big Bang Theory, Regular Show, The Powerpuff Girls, Ed, Edd, n Eddy, Adventure Time, Ben 10, Rick and Morty, Aqua Teen Hunger Force, The Sopranos, The Wire, Succession, The Lord of the Rings, Mortal Kombat, Citizen Kane, The Matrix, Game of Thrones, The Wizard of Oz, King Kong, 2001: A Space Odyssey and The Lego Movie, as well as Paramount's Sonic the Hedgehog, The Godfather, Top Gun, Mission: Impossible, Star Trek, Transformers, Cheers, Yellowstone, Reacher, Dexter, Criminal Minds, South Park, Beavis and Butt-Head, The Ren and Stimpy Show, SpongeBob SquarePants, Teenage Mutant Ninja Turtles, The Loud House, Garfield, Blue's Clues, Happy Days, Dora the Explorer, Terminator, Grease, Mean Girls, Saturday Night Fever, Titanic, Jimmy Neutron and The Fairly OddParents.

Background

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Through an assortment of corporate mergers, splits, and partnerships, Paramount Skydance, Warner Bros. Discovery, its predecessors and subsidiaries shared a long history prior to the merger of the companies.[1]

1912–1986

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Paramount Pictures was founded in 1912 as the Famous Players Film Company.[2] CBS was founded in 1927, which Paramount Pictures held a 49% ownership stake in from 1929 to 1932.[3][4]

On April 4, 1923, Warner Bros. Pictures, Inc. was officially established, as the brothers focused entirely on the motion picture industry.[5] In 1927, Warner Bros. Pictures revolutionized the film industry by releasing its first sound film (or "talkie"), The Jazz Singer, starring Al Jolson.[6]

In 1952, CBS formed CBS Television Film Sales, a division which handled broadcast syndication rights for CBS's library of network-owned television series.[7][8][9] This division was renamed CBS Films in 1958[10][11] and again renamed CBS Enterprises Inc. on December 1, 1967.[12][13] It was renamed Viacom (an acronym of Video and Audio Communications) in 1970.[14] In 1971, this syndication division was spun off amid new FCC rules forbidding television networks from owning syndication companies. These rules were eventually abolished completely in 1993.[15]

Meanwhile, Paramount Pictures was acquired by Gulf and Western Industries in 1966, which then re-branded itself as Paramount Communications in 1989.[16]

1986–2005

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In 1986, Viacom purchased MTV Networks and Showtime/The Movie Channel Inc. from Warner Communications and American Express.[17] In 1987, a majority stake in Viacom was acquired by theater operator company National Amusements.[18]

Viacom then purchased a 50.1% stake in Paramount Communications in February 1994 for $9.75 billion, following a five-month battle with shopping channel QVC. The merger was completed in July.[19][20][21] In 1999, Viacom made its biggest acquisition to date by announcing plans to merge with its former parent CBS Corporation (the renamed Westinghouse Electric Corporation, which had merged with CBS in 1995). The merger was completed in 2000, resulting in CBS reuniting with its former syndication division.[22][23]

2005–2026

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On December 31, 2005, Viacom was split into two companies: the second incarnation of CBS Corporation, the former's corporate successor, and the second incarnation of Viacom, which was formed as a spin-off.[23][24]

Skydance Media was founded in 2006 by David Ellison.[25] In 2009, Skydance and Paramount Pictures signed a five-year co-financing, production and distribution agreement, with Paramount holding an additional option of distribution.[25] That deal was extended twice, in 2013 and 2017.[26][27]

On July 24, 2025, the FCC approved the merger between Paramount Global and Skydance Media.[28][29][30][31]

Formation

[edit]

After Paramount began making unsolicited offers to acquire WBD as a whole, the WBD board of directors placed the company up for auction on October 21, 2025, to maximize shareholder value. The auction was won in December 2025 by Netflix, Inc., which offered $82.7 billion to acquire just the WB studio business. Paramount continued to make unsolicited offers for the entirety of WBD, arguing that a Netflix acquisition of WB would give it an undue position in the subscription video on demand (SVOD) market, and that the company's attitudes towards theatrical film were potentially damaging to the cinema industry. Paramount CEO David Ellison stated that it would release at least 30 films per year if it acquired WBD, and would maintain industry standard release windows and the creative independence of divisions such as HBO.

In February 2026, Paramount made a revised offer to acquire WBD at $31 per share, pay Netflix's breakup fee, and—as a display of confidence that the sale would be approved and completed quickly—pay an ongoing penalty to WBD shareholders if the sale was not completed by a specific deadline. Paramount's offer was deemed superior by the WBD board, and was approved by its shareholders on April 23, 2026. On June 12, 2026, the sale was approved by the U.S. Department of Justice.

Supporters argue that the acquisition is necessary for the studios to achieve the scale needed to compete with tech companies, while preserving a commitment to the cinema industry. Members of the film industry have expressed concern over the resulting scale of the company, its potential impact on movie theaters, cable television, and jobs, as well as the Ellison family's relationship with the Trump administration and its potential influence on the editorial operations of CNN. The European Commission imposed conditions requiring Paramount to exit its United International Pictures distribution venture with Universal Pictures, while the United Kingdom is requiring that its individual news and children's businesses maintain editorial independence, and will prohibit the combination of its linear and on-demand services for five years.

In July 2026, California and 11 other U.S. states, as well as the Writers Guild of America, filed antitrust lawsuits in a California federal court to delay the consummation of the purchase. California argued that the combined company's share of box office and cable television revenue post-acquisition would give it undue leverage over film exhibitors and television providers, and that the consolidation would reduce viewpoint diversity and the quality of its output. On September 21, 2026, Paramount announced a proposed out-of-court settlement with the twelve states, subject to a five-year consent decree mandating specific investments towards film production and acquisition, restrictions on its engagement with film exhibitors and television providers, and the establishment of an independent board to oversee the editorial integrity and independence of CBS News and CNN post-acquisition, among other conditions. Amid concerns the antitrust remedies were not strong enough to address the original concerns raised in the suit. The settlement was approved by the court on September 30, 2026, with Paramount stating that it expected to complete the acquisition by October 6, 2026.[32] That same day, Paramount announced that former Mattel CEO Ynon Kreiz would be joining the newly-merged firm as co-CEO.[33] A day later, it was announced that Casey Bloys would become president of the division currently known as Paramount Streaming, replacing Cindy Holland.[34]

On October 2, 2026, the company's name would be unveiled as Skydance Corporation, reviving the Skydance name and expanding upon the "A Skydance Corporation" byline Paramount Skydance used, the Paramount and Warner Bros. names would be used in the studios only.[35]

Assets

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References

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  1. ↑ Grantham-Philips, Wyatte (July 8, 2024). "Paramount and Skydance merge, signaling end of a family reign in Hollywood and the rise of new power". Associated Press. American newspaper and broadcast members. Archived from the original on July 8, 2024. Retrieved August 6, 2025.
  2. ↑ Abel, Richard (1994). The Ciné Goes to Town: French Cinema, 1896–1914. Berkeley, California: University of California Press. p. 10. ISBN 0-520-07936-1.
  3. ↑ Bergreen, Laurence (1980). Look Now, Pay Later: The Rise of Network Broadcasting. New York City: Doubleday and Co. p. 61. ISBN 978-0-451-61966-2. Archived from the original on May 5, 2010.
  4. ↑ Barnouw, Erik (1966). A Tower in Babel: A History of Broadcasting in the United States to 1933. New York City: Oxford University Press. p. 261. ISBN 978-0-19-500474-8.
  5. ↑ Maas, Jennifer (March 23, 2022). "Warner Bros. Reveals 100th Anniversary Logo, Teases Rollout of Commemorative Content, Products and Events". Variety. Archived from the original on May 8, 2022. Retrieved May 8, 2022.
  6. ↑ "Warner, Movie Magnate, Dies: Sam Warner, Former Youngstown Man, Rose from Obscurity to Leader in Field". The Youngstown Daily Vindicator. October 5, 1927.
  7. ↑ "Broadcasting Magazine" (PDF). World Radio History. January 14, 1952. p. 94. Retrieved August 2, 2025.
  8. ↑ "Broadcasting Magazine" (PDF). World Radio History. March 17, 1952. p. 88. Archived (PDF) from the original on July 9, 2021. Retrieved August 2, 2025.
  9. ↑ "Broadcasting Magazine" (PDF). World Radio History. June 23, 1952. p. 80. Archived (PDF) from the original on July 9, 2021. Retrieved August 2, 2025.
  10. ↑ "Broadcasting Magazine" (PDF). World Radio History. September 22, 1958. pp. 31–33. Archived (PDF) from the original on July 9, 2021. Retrieved August 2, 2025.
  11. ↑ "Broadcasting Magazine" (PDF). World Radio History. October 13, 1958. p. 49. Retrieved August 2, 2025.
  12. ↑ "Name change at CBS" (PDF). World Radio History. December 4, 1967. p. 1. Retrieved August 2, 2025.
  13. ↑ "Broadcasting Magazine" (PDF). World Radio History. January 29, 1968. p. 8. Archived (PDF) from the original on September 11, 2025. Retrieved August 2, 2025.
  14. ↑ "Broadcasting Magazine" (PDF). World Radio History. July 6, 1970. p. 19. Archived (PDF) from the original on September 12, 2021. Retrieved August 2, 2025.
  15. ↑ Croteau, Davivd R.; Hoynes, William (2005). The Business of Media: Corporate Media and the Public Interest. Thousand Oaks, California: SAGE Publications, Inc. pp. 100–101. ISBN 978-1412913157.
  16. ↑ Williams, Linda (April 10, 1989). "Gulf & Western Wants Buyer for Finance Division: Paramount's Parent Plans to Change Name, Focus on Entertainment, Publishing". Los Angeles Times. ISSN 2165-1736. OCLC 3638237. Archived from the original on June 26, 2013.
  17. ↑ Fabrikant, Geraldine (September 17, 1986). "Viacom Chief Leads Group's Buyout Bid". The New York Times. ISSN 1553-8095. OCLC 1645522. Archived from the original on January 30, 2021. Retrieved January 23, 2021. In November 1985, Viacom acquired MTV for $326 million in cash and warrants. One-third of MTV was publicly owned; the rest was owned by Warner Communications and the American Express Company. At the same time, Viacom bought 50 percent of Showtime, the pay television service, that it did not already own for $184 million.
  18. ↑ "Viacom Inc. has acquired Viacom International Inc". Los Angeles Times. June 10, 1987. ISSN 2165-1736. OCLC 3638237. Archived from the original on June 15, 2023. Retrieved June 15, 2023.
  19. ↑ Fabrikant, Geraldine (February 15, 1994). "Executives Say That Viacom Has Won Paramount Battle". The New York Times. p. A1. ISSN 1553-8095. OCLC 1645522. Archived from the original on December 18, 2020. Retrieved August 3, 2025.
  20. ↑ "Annual Report". U.S. Securities and Exchange Commission. United States Government Publishing Office. Archived from the original on March 8, 2016. Retrieved August 3, 2025.
  21. ↑ "75 Power Players: The Outsiders". Next Generation. No. 11. November 1995. p. 61. Retrieved August 3, 2025. Viacom completed acquisition of Paramount Communications in July 1994, creating one of the world's largest entertainment companies.
  22. ↑ Croteau, David; Hoynes, William (2006). "3". The business of media : corporate media and the public interest (2nd ed.). Thousand Oaks, California: Pine Forge. p. 85. ISBN 978-1412913157.
  23. 1 2 Wilkerson, David B. (October 18, 2005). "Viacom moves up split date". MarketWatch. Dow Jones & Company. Archived from the original on August 10, 2022. Retrieved August 2, 2025.
  24. ↑ "CBS And Viacom Complete Merger". CBS News. CBS News and Stations. April 26, 2000. Archived from the original on October 20, 2020. Retrieved March 30, 2021.
  25. 1 2 Eller, Claudia (August 16, 2010). "David Ellison raises $350 million to co-fund movies with Paramount". Los Angeles Times. ISSN 2165-1736. OCLC 3638237. Archived from the original on August 20, 2010. Retrieved January 12, 2020.
  26. ↑ Fleming, Mike Jr. (March 19, 2016). "David Ellison's Skydance Raises $700 Million In Funding For Film, TV Slates". Deadline Hollywood. Penske Media Corporation. Archived from the original on March 30, 2016. Retrieved April 11, 2018.
  27. ↑ Galuppo, Mia (August 7, 2017). "Skydance, Paramount Ink New Four-Year Deal". The Hollywood Reporter. Archived from the original on May 21, 2021. Retrieved February 28, 2022.
  28. ↑ Pequeño IV, Antonio (July 24, 2025). "FCC Greenlights Paramount-Skydance Merger". Forbes. Integrated Whale Media Investments. ISSN 0015-6914. OCLC 6465733. Archived from the original on July 24, 2025. Retrieved July 25, 2025.
  29. ↑ Hayes, Dade (July 25, 2025). "Paramount Co-CEOs Confirm Skydance Deal Closing Date, Laud Employee Efforts During Process". Deadline Hollywood. Penske Media Corporation. Archived from the original on July 25, 2025. Retrieved July 25, 2025.
  30. ↑ Hayden, Erik (July 25, 2025). "Nearly Done: Paramount-Skydance Merger Gets Deal Close Date". The Hollywood Reporter. Archived from the original on July 25, 2025. Retrieved July 25, 2025.
  31. ↑ Spangler, Todd (July 25, 2025). "Paramount and Skydance Expect Deal to Close Aug. 7". Variety. Archived from the original on July 25, 2025. Retrieved July 25, 2025.
  32. ↑ Spangler, Todd (September 30, 2026). "Paramount-Warner Bros. Merger Set to Close Next Week After Judge OKs Settlement With State AGs". Variety. Archived from the original on September 30, 2026. Retrieved September 30, 2026.
  33. ↑ Spangler, Todd (September 30, 2026). "David Ellison Taps Mattel's Ynon Kreiz to Be Co-CEO of Merged Paramount-Warner Bros". Variety. Retrieved October 2, 2026.
  34. ↑ Bouma, Luke (October 1, 2026). "The Head of HBO Is Taking Over All of Paramount's Streaming, Including Pluto TV & Paramount+". Cord Cutters News. Retrieved October 1, 2026.
  35. ↑ Spangler, Todd (October 2, 2026). "New Name of Paramount-Warner Bros. Unveiled: Skydance". Variety. Retrieved October 2, 2026.
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