Mergers & Acquisitions ·
Skydance completes $78B acquisition of Warner Bros. Discovery; WBD shares converted to cash at $31.02
WBDWarner Bros. Discovery, Inc.
On October 6, 2026, Skydance Corporation completed its previously announced merger with Warner Bros. Discovery, making WBD a wholly owned subsidiary. Each share of WBD common stock was canceled and converted into the right to receive $31.0167 in cash, including ticking consideration. The aggregate transaction value is approximately $78 billion, funded by equity and debt financing. Following the merger, WBD's directors and officers ceased their roles, with key executives separating from employment. WBD Common Stock was delisted from Nasdaq, and the company intends to file Form 15 to terminate its SEC reporting obligations. The media and entertainment conglomerate produces and distributes content globally.