Paramount Skydance

Money Moves

Acquiring Warner Bros. Discovery

Vylor took Corteva's S&P 500 seat on October 1, and Twilio replaced Warner Bros. Discovery on October 6, completing the index reshuffle S&P Dow Jones Indices announced. Corteva moved to the MidCap 400, and Olin, Formfactor and Workiva shifted tiers. Both newcomers closed lower on October 2, even as the S&P 500 rose.

Updated Oct 22

Money Moves

As of October 2026: Completed acquisition of Warner Bros. Discovery on October 6, 2026; renamed Skydance Corporation. Shares trade under SKYD on NYSE.

On October 6, Paramount Skydance completed its $110 billion acquisition of Warner Bros. Discovery, creating a combined company named Skydance and ending a 13-month bidding war that survived federal and state antitrust challenges. The deal closed after a federal judge approved a settlement with 12 states on September 30, and shares of Skydance began trading on the NYSE under the ticker SKYD.

Updated Oct 9

Money Moves

As of May 2026: Unsuccessful rival bidder for Warner Bros. Discovery

On December 5, 2025, Netflix announced a definitive deal to acquire Warner Bros.' film and television studios and streaming businesses, including HBO and HBO Max, valued at $72 billion in equity and $82.7 billion including debt. On January 20, 2026, the parties amended to an all-cash structure at $27.75 per share, with a shareholder vote expected by April 2026.

Updated May 10

Money Moves

As of May 2026: Hostile bidder seeking to acquire all of WBD via $30/share all-cash tender offer

After Netflix and Warner Bros. Discovery announced their $72 billion equity-value agreement on December 5, the transaction quickly became a live bidding contest and a regulatory test case. On December 8, Paramount Skydance launched an unsolicited all-cash tender offer at $30 per share to derail the Netflix deal and keep WBD intact, including networks slated for its Discovery Global spin-off. Within days, Netflix began a coordinated shareholder push backing its signed merger agreement and emphasizing regulatory execution, while WBD prepared formal filings to respond to the tender offer.

Updated May 9