Skydance to Replace PSKY Ticker as $110B Warner Bros. Discovery Merger Closes Tuesday

TLDR

• David Ellison, CEO of Paramount Skydance, has revealed the Warner Bros. Discovery combination will operate under the Skydance corporate name.
• The approximately $110 billion transaction is scheduled to finalize next Tuesday.
• Trading will shift to the new ticker symbol “SKYD.”
• Both Paramount and Warner Bros. will continue as independent studio labels beneath the Skydance umbrella.
• PSKY shares gained 1.71% on the announcement, while WBD declined 0.03%.

Shares of Paramount Skydance (PSKY) advanced 1.71% Friday following CEO David Ellison’s confirmation of the corporate identity for the combined entity with Warner Bros. Discovery (WBD). Meanwhile, WBD shares edged down 0.03% during the session.

Paramount Skydance Corporation Class B Common Stock, PSKY

Through a social media announcement, Ellison revealed that the merged operation will carry the Skydance name upon completion.

The decision resolves months of uncertainty surrounding the branding of the entertainment conglomerate. It represents the culminating detail in a transaction that has unfolded over more than a year.

“Paramount and Warner Bros. shaped over a century of culture,” Ellison stated. “By combining them, we aren’t rewriting history, we’re equipping these iconic studios with a more powerful engine.”

A Full-Circle Moment

This marks Ellison’s second transformative acquisition in less than two years. Skydance, the production house responsible for “Top Gun: Maverick” and the Mission: Impossible series, completed its Paramount acquisition in August 2025.

Shortly after finalizing that transaction, Ellison pursued Warner Bros. Discovery. The effort evolved into a competitive bidding situation involving several industry heavyweights.

According to reports, Netflix was among the suitors Paramount Skydance bested in the competition for Warner Bros. assets. By February, Paramount Skydance and Warner Bros. Discovery had reached an agreement with an enterprise value of approximately $110 billion.

The transaction overcame its final significant obstacle earlier this week. A federal court approved a settlement following a challenge from a coalition of 12 state attorneys general.

With regulatory hurdles now cleared, Paramount Skydance has indicated the transaction will complete on Tuesday.

What Happens to the Brands

Ellison emphasized that the Skydance designation serves as an overarching corporate umbrella rather than a studio replacement. The Paramount and Warner Bros. names will retain their distinct operational identities.

“We never wanted a new corporate identity to diminish, alter or overshadow either one,” Ellison explained. His vision called for a parent company name that establishes corporate identity while allowing Paramount and Warner Bros. to maintain prominence.

Following the deal’s completion, the unified enterprise will commence trading under the ticker “SKYD,” replacing the existing PSKY designation.

The scope of the resulting company is substantial. Based on Rentrak data, Paramount and Warner Bros. collectively plan to distribute 35 theatrical releases in the coming year.

Executive leadership has been finalized. Ellison will share chief executive responsibilities with departing Mattel CEO Ynon Kreiz following next week’s official close.

The rebranding represents the conclusion of Ellison’s meteoric expansion from production company operator to steward of two legendary Hollywood studios in fewer than 24 months. Attention now turns to Tuesday’s closing, when the Skydance corporate name becomes official and the new ticker symbol begins its market debut.