As reported by PWMania.com, Warner Bros. Discovery, Inc. (WBD) is AEW’s primary broadcast partner and holds a minority ownership stake. Meanwhile, Skydance’s Paramount+ is the main streaming partner for TKO-owned UFC. It has been announced that Ynon Kreiz, a former Mattel executive, was named co-CEO of Skydance and has begun his role this week.
In an official press release, Skydance Corporation (formerly known as Paramount Skydance) announced the completion of its acquisition of Warner Bros. Discovery, Inc. (WBD). The newly formed entity is now referred to as “Skydance.” This acquisition brings Warner Bros. Pictures, Paramount Pictures, Paramount+, HBO Max, and a vast portfolio of television and cable networks under the Skydance umbrella.
According to the press release, the transaction closed after receiving all required regulatory approvals set forth in the merger agreement and fulfilling other customary closing conditions. Skydance Class B shares will begin trading today on the New York Stock Exchange (NYSE) under the new ticker symbol “SKYD.” The press release emphasizes that storytelling will drive the growth of the combined company, aiming to bring creative visions to audiences in over 200 countries and territories while creating greater opportunities for workers across the entertainment industry.
Additionally, the press release reiterates Ellison’s long-standing commitment to releasing 30 theatrical films each year, with a minimum 45-day theatrical window for each film. The media entity also plans to support the independent production sector by commissioning content from independent studios, licensing content to third parties, and creating more opportunities and jobs for creatives, both in front of and behind the camera.
