# Ellison Seals Warner Buy

> David Ellison completes $110 billion Warner Bros. Discovery takeover, creating Skydance Corp.
- Title: Ellison Seals Warner Buy · Los Angeles Business Journal
- Summary: David Ellison completes $110 billion Warner Bros. Discovery takeover, creating Skydance Corp. David Ellison finalized a $110 billion merger with Warner Bros…
- Keywords: david ellison, warner bros discovery, skydance corp, paramount pictures, hbo max, cbs, cnn, tnt, tbs, nickelodeon, mtv, ynon kreiz
- Source: Los Angeles Business Journal — https://labusinessjournal.com/featured/ellison-seals-warner-buy
- Author: Monee Fields-White
- Published: 2026-10-12T16:50:15+00:00
- Read time: 1 min
- Topics: david ellison, warner bros discovery, skydance corp, paramount pictures, hbo max, cbs, cnn, tnt, tbs, nickelodeon, mtv, ynon kreiz
## Deal closes
David Ellison finalized a $110 billion merger with Warner Bros. Discovery, creating Skydance Corp. to combine Paramount and Warner Bros. studios under one Hollywood-based owner.

> David Ellison closed his roughly $110 billion takeover of Warner Bros. Discovery Inc. Oct. 6, putting the Paramount Skydance and Warner Bros. studios under a single Hollywood-based owner after a nearly yearlong battle.
## New ticker
Skydance Corp. began trading on the New York Stock Exchange under the ticker SKYD, replacing Paramount Skydance Corp.'s Nasdaq listing.

> The combined company, renamed Skydance Corp., began trading on the New York Stock Exchange under the ticker SKYD, replacing Paramount Skydance Corp.'s Nasdaq listing.
## Share price
Warner shareholders receive $31 a share in cash plus a daily ticking fee, bringing the total to about $31.02.

> Warner shareholders receive $31 a share in cash plus a daily ticking fee, bringing the total to about $31.02.
## Ellison's vision
Ellison called the closing a 'historic day,' saying the company now has the talent, resources and reach to compete.

> Ellison called the closing a 'historic day,' saying the company now has the talent, resources and reach to compete.
## New leadership
Ellison will serve as chair and co-chief executive alongside Ynon Kreiz, the former Mattel Inc. chief executive who officially joined Oct. 5.

> Ellison will serve as chair and co-chief executive alongside Ynon Kreiz, the former Mattel Inc. chief executive who officially joined Oct. 5.
## Debt and cuts
Skydance starts out with nearly $80 billion in debt, projecting at least $6 billion in cost savings through layoffs.

> Skydance starts out with nearly $80 billion in debt, projecting at least $6 billion in cost savings through layoffs.
## Legal settlement
The company must spend at least $1.5 billion on U.S. film and television production over five years and release at least 30 films a year for two years.

> The company must spend at least an additional $1.5 billion on U.S. film and television production over five years and release at least 30 films a year for two years, then 32 annually for three more.
## Key takeaway

David Ellison finalized a $110 billion merger with Warner Bros. Discovery, forming Skydance Corp. to combine Paramount and Warner Bros. studios under one Hollywood-based owner.