Skydance Officially Launches with ~$70B Annual Revenue, Listed on NYSE Under Ticker SKYD
nashnova research
Paramount completed its ~$110 billion acquisition of Warner Bros. Discovery and rebranded as Skydance, creating a combined entity with ~$70 billion in annual revenue and nearly $80 billion in debt — Hollywood's largest-ever media merger now shifts the market's focus to whether the new company can deliver on integration under that debt load.
How big is this deal?
Paramount acquired Warner Bros. Discovery for ~$110 billion. The combined company is now Skydance, trading under ticker SKYD on the NYSE.
The merged entity commands ~$70 billion in annual revenue, uniting Paramount+ and HBO Max alongside CBS, CNN, MTV, and other TV networks.
This means → Hollywood has jumped from a landscape of rival major studios to a single content conglomerate approaching Netflix's scale.
Who is running the company?
David Ellison takes the helm, overseeing creative direction. His father Larry Ellison — Oracle co-founder — backs the family's controlling stake.
Mattel CEO Ynon Kreiz joins as co-CEO, handling day-to-day operations and integration. He is known for corporate turnarounds and is seen as the key figure for merging two sprawling asset bases.
To address concerns over the Ellison family's ties to President Trump, the company committed to independent operation of CBS and CNN and established an editorial-independence committee.
How did Paramount win the bidding war?
In February 2026, Paramount beat Netflix after months of competitive bidding. Netflix wanted only the film and streaming assets; Paramount bid for the whole company.
Larry Ellison personally guaranteed the financing to lock in the deal. Paramount paid Netflix a $2.8 billion breakup fee on Warner Bros. Discovery's behalf.
Twelve state attorneys general and the Writers Guild of America filed lawsuits. All were resolved through settlements; the DOJ and EU both granted fast-track antitrust clearance.
How does it handle ~$80 billion in debt?
Post-closing, Skydance carries nearly $80 billion in debt. Inflation-driven borrowing costs mean interest expenses are far higher than just months ago.
Paramount completed $52 billion in loans and bond issuances in a single week — one of the largest financing operations in recent years.
RedBird Capital Partners injected an additional $4 billion in equity in this transaction, bringing its total commitment to $6 billion.
What should investors watch most closely?
As a condition of the state AG settlements, Skydance must release at least 30 films theatrically per year, each with a 45-day exclusive theatrical window before home-video release.
The company targets more than $6 billion in annual synergies within three years of closing.
In plain terms = ~$80 billion in debt vs. a $6 billion synergy target — whether Skydance can deliver without escalating Hollywood labor tensions is the central question for valuing this deal.
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