Paramount Completes Acquisition of Warner Bros. Discovery, Creating Skydance
The October 6 closing brings Paramount, Warner Bros. Discovery, HBO, CBS, CNN, Paramount+, HBO Max and a massive film, television, news and sports portfolio under one newly combined entertainment company.
By Robyn Antonius / Urban Global Entertainment & Media | Editorial Desk
October 6, 2026
One of the largest entertainment industry consolidations in recent years is now official.
On October 6, 2026, Paramount completed its acquisition of Warner Bros. Discovery, creating a newly combined global media and entertainment company called Skydance.
The transaction brings together two major film studios, two global streaming platforms, major television networks, news organizations, sports properties and some of the most recognizable entertainment franchises in the world.
The combined company now includes major brands and businesses across:
- Paramount Pictures
- Warner Bros.
- CBS
- HBO
- CNN
- Paramount+
- HBO Max
- CBS Sports
- TNT Sports
- DC
- Nickelodeon
- MTV
- BET
- Discovery
and additional cable, streaming, film, television and gaming properties.
According to Paramount’s official announcement, the combined company plans to produce at least 30 theatrical films per year and more than 180 television shows and series.
The company says its strategy will focus on global scale, technology, storytelling and expanded opportunities across film, television, streaming, news, sports and entertainment.
The transaction closed after the companies received the required regulatory approvals and completed the remaining closing conditions.
“Who controls the content, platforms and distribution shapes the future of entertainment.”
Source: Paramount / Skydance · SEC filing dated October 6, 2026 — Paramount Newsroom · SEC EDGAR
