S.O.S. Barracuda - Part 2

Paramount Skydance Corporation was a short-lived American multinational mass media and entertainment conglomerate co-headquartered in the Hollywood neighborhood of Los Angeles, California and at One Astor Plaza in New York City. CBS, a major Paramount asset, is also headquartered in New York City, but at the CBS Broadcast Center in Midtown Manhattan. Paramount Skydance also housed major offices and operations at the previous Skydance Media headquarters in Santa Monica, California. Larry and David Ellison control the company, owning 77.5% of the voting shares and 47.2% of all shares. RedBird Capital Partners own 22.5% of the voting shares and 13% of all shares. Paramount Skydance was formed on August 7, 2025, by David Ellison, through the merger of Skydance Media, Paramount Global, and National Amusements. The company traded under the ticker symbol "PSKY" on the Nasdaq. Shortly after its formation, Paramount Skydance began pursuing an unsolicited bid to acquire Warner Bros. Discovery and subsequently won a bidding war for the company in February 2026. Paramount Skydance's purchase of WBD was approved by the U.S. Department of Justice on June 12, 2026. A subsequent anti-trust lawsuit by 12 state attorneys general (led by California) initially led Paramount to delay the closure of the acquisition until June 1, 2027, and a federal judge ruled in favor of holding a trial for the lawsuit in March 2027. Ultimately, on September 21, 2026, Paramount Skydance reached a settlement with the states, which included provisions for independent editorial boards at CNN and CBS News and a commitment by Paramount to release 30 films annually, with a $30 million penalty for each film below that target. On October 2, 2026, David Ellison announced that Paramount Skydance will be restructured and renamed to Skydance Corporation, and its stock will be traded on the New York Stock Exchange under the ticker symbol "SKYD" upon the merger's forthcoming completion, which closed on October 6, 2026.