After months of twists and turns, David Ellison’s effort to bring two of Hollywood’s biggest studios under one roof has finally become reality. On Tuesday, Oct. 6, the $111 billion Paramount-Warner Bros. Discovery merger officially closed, with Skydance (SKYD) Class B shares debuting on the New York Stock Exchange under the ticker “SKYD.” WBD shares ceased trading on Nasdaq the same day.
The harder part now is making the combined company work. CEO Ellison believes technology will be central to that effort, with Skydance aiming to “embrace technology” as a fundamental company capability rather than simply another buzzword in a presentation. The strategy is particularly important as the company faces competition from both traditional entertainment giants and businesses whose expertise was built around technology.
