Skydance Corporation completed its acquisition of Warner Bros. Discovery (WBD) on October 6, 2026. WBD is now a wholly owned Skydance subsidiary, and eligible WBD shareholders were entitled to cash consideration of $31.01666668 per share. The change gives the two companies’ studios, networks and streaming services a common owner; it does not, by itself, confirm that HBO Max and Paramount+ will merge or change their prices.
What the acquisition means
The deal closed under the merger agreement Skydance and WBD signed on February 27, 2026. Legally, Skydance’s wholly owned Prince Sub merged into WBD, with WBD continuing as Skydance’s wholly owned subsidiary. The closing filing records a change in control and says eligible WBD common shares were canceled and converted into the right to receive cash consideration. Former shareholders no longer have shareholder rights, apart from the right to receive that payment. WBD’s October 6, 2026 Form 8-K describes the closing and its legal effects.
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| 1 |
![Best of Warner Bros. 50 Film Collection (BD) [Blu-ray]](https://m.media-amazon.com/images/I/51qrQaTrIWL._SL160_.jpg)
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Best of Warner Bros. 50 Film Collection (BD) [Blu-ray] | $259.95 | Buy on Amazon |
| 2 |
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Venture Bros.: Radiant is the Blood of the Baboon Heart (Blu-ray) | $10.89 | Buy on Amazon |
| 3 |
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Maverick (BD) | $11.99 | Buy on Amazon |
| 4 |
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Maltese Falcon, The (4K Ultra HD + Blu-ray) | $17.99 | Buy on Amazon |
| 5 |
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WB 100th 25Film Collection Vol 1 Award Winners (Blu-ray) | $199.00 | Buy on Amazon |
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What WBD shareholders were entitled to receive
Eligible WBD Series A common shareholders were entitled to $31.01666668 in cash per share, including ticking consideration, according to the closing filing. The filing reports approximately $78 billion in aggregate merger consideration, funded through a combination of equity and debt financing. These are the filing’s figures for shareholder consideration and its funding; they should not be mistaken for every broader measure of the transaction’s total cost.
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1Scan for outdated or missing drivers - takes under a minute2Clear out junk files and repair common Windows errors3Fix the driver behind crashes, sound loss and screen glitchesWhy deal-size figures differ
Different reported amounts refer to different scopes. The Associated Press described the takeover as an $81 billion deal and said the overall acquisition, including billions of dollars of debt, approached $111 billion. Those figures are AP’s broader transaction and debt framing; the SEC filing’s approximately $78 billion figure is its stated aggregate merger consideration. The amounts are not interchangeable, so a claim about deal value should specify which measure and source it uses. The Associated Press report provides its framing.
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Who owns Warner Bros. and the combined portfolio
Skydance Corporation, formerly Paramount Skydance Corporation, now owns WBD. The combined company is called Skydance. AP describes the companies’ shared portfolio as including HBO Max, Paramount+, CNN, CBS, Warner Bros. and Paramount Pictures, along with their content libraries and franchises. Common ownership brings these services and businesses under one corporate parent; it does not mean the streaming apps have already been combined.
Leadership announced for the combined company
In an October 5 announcement made before the closing, Skydance named David Ellison chairman and CEO of the combined company, Ynon Kreiz co-CEO, and Casey Bloys to a streaming-content leadership role overseeing programming for HBO Max and Paramount+. That announcement was conditional on the acquisition’s completion. The October 6 filing confirms the transaction closed, but it is not a complete post-close leadership roster. Skydance’s leadership announcement sets out the planned slate.
Will HBO Max and Paramount+ merge?
The sources establish common ownership, not a merger of the services. They do not announce an app consolidation, a bundle, a subscription-price change or a timetable for combining operations. Shared ownership may create options for future decisions, but no specific streaming change follows automatically from the acquisition.
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What has not been settled by the closing
Closing completed the ownership change, not every operational decision. The available announcements do not establish whether content will be removed, how theatrical distribution will be handled, or when integration will occur. Skydance’s completion announcement identifies integration costs, delivering synergies, reducing debt and meeting financial targets as risks and uncertainties, so those aims should be treated as execution matters rather than accomplished results. Skydance’s completion announcement describes its stated priorities and risks. The Form 8-K also describes Nasdaq delisting and termination of WBD’s Exchange Act reporting obligations as intended next steps following applicable filings, not as steps necessarily completed on closing day.
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Rank #4
- Item name: The Maltese Falcon
- Product type: PHYSICAL MOVIE
- Brand: WB
Rank #3
- Maverick [Blu-ray]
- PHYSICAL_MOVIE
- warner home video
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