Paramount has completed the acquisition of Warner Bros.
Paramount Skydance and Warner Bros. Discovery have officially merged into one entity. The unified organization will now operate simply under the name Skydance.
Hogwarts Legacy
The NASDAQ exchange has already halted trading of Warner Bros. shares. Under the terms of the deal, shareholders received $31 for each share. It is expected that the shares of the merged Skydance will soon be available on the New York Stock Exchange under the new ticker SKYD.
In total, considering all debts, the deal's value amounted to a substantial $111 billion.
As a result of the acquisition, Skydance gained control not only over film assets but also over Warner Bros.' gaming teams. These include, among others, Avalanche Software (creators of Hogwarts Legacy), NetherRealm Studios (creators of Mortal Kombat and Injustice), Rocksteady Studios (creators of Batman: Arkham), TT Games (creators of LEGO games), and several other studios.
It should be noted that Paramount faced many hurdles on the path to acquiring Warner Bros. Interest in the company became known as early as the fall of 2025, but Warner Bros. management was reluctant to accept the offer for a long time. Moreover, in December 2025, Warner Bros. announced that Netflix was to become its new owner. Despite this, in February 2026, the parties ultimately agreed to the deal, and the agreement with Netflix was nullified. Afterward, there were antitrust lawsuits from the attorneys general of 12 U.S. states and the Writers Guild of America, which delayed the completion of the purchase.