Skydance Corp forms from Paramount and Warner Bros. Discovery merger

Paramount and Warner Bros. Discovery merged to establish Skydance Corp. The Ellison family holds the largest equity stake within Skydance. Skydance plans to reduce its net debt to adjusted EBITDA ratio from an estimated 6-7x in 2026 to a target of 3.0x by the end of 2029. David Ellison hired Ynon Kreiz, former CEO of Mattel, to run the company as co-CEO. The merger creating Skydance was funded with $47 billion of investment in Class B common stock. Skydance Class B shares will begin trading on the New York Stock Exchange under the ticker symbol “SKYD” on Tuesday. Warner Bros. Discovery shareholders received $31.01666668 per share in cash. Ellison stated, “Today is a historic day, not just for Skydance but for our entire industry.”
David Ellison stated, “Today is a historic day, not just for Skydance but for our entire industry.”
David Ellison




















































































