The Daily Buyout
~$110BreportedMergerMedia & Telecom

Paramount Skydance–Warner Bros. Discovery merger set to close October 6

Paramount Skydance and Warner Bros. Discovery said their merger, agreed in February 2026, is expected to close on October 6, subject to customary conditions. WBD holders will receive $31.00 per share in cash plus a daily ticking accrual of roughly $0.0028 per day after September 30, implying about $31.0167 per share at the anticipated closing date.

Why it matters: One of the largest media combinations in years is days from the finish line, reshaping the studio and streaming landscape.

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$110BStrategic acquisitionMedia & TelecomCompletedOct 7, 2026

Paramount closes $110B Warner Bros. Discovery takeover, becomes Skydance

Paramount completed its $110 billion acquisition of Warner Bros. Discovery on October 6, forming a combined company called Skydance under David Ellison. The deal unites Paramount+ and HBO Max with CBS, CNN, TBS and franchises like Game of Thrones and the DC Universe. It closed after settlements with a coalition of U.S. states and a Hollywood writers' union cleared the main legal hurdles.