Paramount Completes Warner Bros. Takeover as Skydance Sets Integration Plans

Paramount's pursuit of Warner Bros. Discovery took about a year and involved competing bids and an antitrust hurdle, according to Axios and CNBC International. The acquisition ultimately brought two major Hollywood studios into the same company.

Deutsche Welle reported that David Ellison's hostile takeover bid defeated rival efforts from Netflix. The prize extended well beyond films: the combined business includes television networks, news operations and streaming services.

On October 6, 2026, Paramount completed the acquisition of Warner Bros. Discovery. Le Monde reported a $110 billion deal and said the new group was renamed Skydance.

The published price figures are not consistent. Deutsche Welle, CBC News and Sky News described an $81 billion takeover, while in.gr reported $111 billion. The supplied coverage does not explain the differences.

That morning, Skydance began trading on the New York Stock Exchange, according to CNN. The company brought together Paramount Pictures and Warner Bros. Pictures, along with CBS News, CNN and HBO, NDTV reported.

On October 6, Skydance CEO David Ellison addressed a crowd at the Warner Bros. lot in Burbank. The Hollywood Reporter quoted him saying the path to completion had at times been "downright ugly."

On October 7, Skydance's newly appointed Motion Picture Group co-chairs, Dana Goldberg and Josh Greenstein, outlined plans for the studios. Variety reported their pledge that Paramount and Warner Bros. would each build and release their own films.

Also on October 7, The Hollywood Reporter reported that Ellison again said he planned to combine HBO Max and Paramount+, while cautioning that building the necessary technology would take time.

The transaction is complete, but combining the businesses remains a separate task. Bloomberg reported that the acquisition unites two of Hollywood's five largest film studios and franchises including Harry Potter and Mission Impossible.

The streaming plan points toward a shared service rather than necessarily a single consumer brand. Ars Technica reported that HBO Max, Paramount+ and Discovery+ would unify into one service. Forbes subsequently reported signals that HBO Max and Paramount+ could retain distinct brands.

The concentration of ownership is drawing concern. CBC News described further consolidation in an industry already controlled by a handful of major players, while Franceinfo reported fears within film and television about job losses.

The next concrete test is the streaming integration: its timing, the technology required and whether separate brands survive within a common service. The Hollywood Reporter reported that the technical work would take a while; the supplied coverage gives no launch date.

The studio commitments also need to translate into operating decisions. Goldberg and Greenstein's pledge preserves separate film development and release responsibilities, according to Variety. Meanwhile, Variety reported, citing sources, that Josh Goldstine would be tapped to oversee marketing and distribution across Warner Bros., Paramount Pictures and all Skydance film labels.