Companies · PSKY
Paramount Skydance Corporation
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Latest analysis
Updated Oct 16, 2026
Paramount Skydance closes WBD merger, issues 470.7M warrants at $12 strike as post-close equity adjustment.
Paramount Skydance completed its merger with Warner Bros. Discovery on October 6, 2026, and distributed 470.7 million warrants to Class B shareholders (excluding founders, RedBird, and the 401(k) plan) on October 13, 2026, at a $12.00 exercise price per share. The warrant distribution was a post-close equity adjustment to compensate shareholders for the combined entity's capital structure. Concurrent with the closing, a trading blackout for directors and officers began on October 5, 2026, expected to end the week of October 18, 2026, to allow the 401(k) plan to receive substitute shares in lieu of warrant participation.
Tone: neutralRevenue
$28.9B
PSKY 10-K · FY 2025
Employees
17,600
Revenue FY2024
$29.2B
Headquarters
New York
Profile
PSKY 10-K Item 1 · Feb 25, 2026Paramount Skydance Corporation is a global media and entertainment company formed through the August 2025 merger of Paramount Global and Skydance Media. The company operates across television broadcasting, cable networks, streaming services, and filmed entertainment, reaching audiences in more than 30 countries. Its portfolio spans CBS, Paramount+, Pluto TV, Nickelodeon, MTV, BET, Comedy Central, Showtime, and Paramount Pictures, among others.
Read filing description ↓ Collapse description ↑
We are a global media and entertainment company with a portfolio that includes Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Pluto TV and Skydance Media, LLC's animation, interactive/games and sports divisions. Our TV Media segment consists of broadcast operations including the CBS Television Network and CBS Stations; domestic premium and basic cable networks; and domestic and international television studio operations. Our Direct-to-Consumer segment consists of our portfolio of domestic and international pay and free streaming services, including Paramount+, Pluto TV and BET+. Paramount+ is our global on-demand and live subscription streaming service that combines live sports, news and entertainment content. Pluto TV is our global free advertising-supported streaming television (FAST) service featuring a broad range of curated live linear channels and on-demand content. Our Filmed Entertainment segment consists of Paramount Pictures, Skydance's animation, interactive/games and sports divisions, Paramount Animation, Nickelodeon Studios and Miramax. Paramount Pictures is a global producer and distributor of filmed entertainment since 1912, an iconic brand with an extensive library of films, including classics such as Titanic, Forrest Gump and The Godfather, and well-known franchises such as Mission: Impossible and Transformers.
Primary products
- CBS Television Network
- CBS Stations
- Paramount+
- Pluto TV
- BET+
- Nickelodeon
Business segments
End markets
Geographies
“We operate in highly competitive and dynamic industries and our business, financial condition or results of operations could be adversely affected if we do not compete effectively.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Combined 2025 revenues (Successor period August 7 - December 31, 2025 of $12,269 million plus Predecessor period January 1 - August 6, 2025 of $16,622 million) totaled approximately $28,891 million, compared to $29,213 million for the full year 2024, reflecting a slight year-over-year decline driven by continued linear TV audience erosion, partially offset by streaming growth.
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Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.