Paramount Skydance corporate evolution and WBD acquisition process

Paramount Skydance raises full-year profit outlook, ‘confident’ on WBD deal

Skydance completed its merger with Paramount.

Skydance completed its merger with Paramount nearly a year before the combined company reported its second-quarter results, according to the company's earnings report. The combined entity, known as Paramount Skydance, is led by CEO David Ellison.

In its second-quarter report, Paramount Skydance said the quarter was its best for Paramount+ retention and raised its full-year 2026 adjusted EBITDA guidance, citing savings from the merger. The company has said it plans to save $3 billion from its merger consolidation.

The earnings report also came as Paramount pursues an acquisition of Warner Bros. Discovery, a deal that has been delayed to as late as June 2027 amid an antitrust lawsuit brought by U.S. states.

Paramount initially planned to close the Warner Bros. Discovery deal by the end of September.

Paramount initially said it planned to close its proposed acquisition of Warner Bros. Discovery by the end of September, according to its recent earnings report coverage.

The deal has been delayed, however. Paramount agreed last month to push the closing date to as late as June 2027, and the acquisition has been held up by an antitrust lawsuit brought by U.S. states.

Paramount Skydance CEO David Ellison said the company remains confident the proposed acquisition will be completed.