Paramount Skydance Corporation announced on October 2, 2026, that it will officially change its corporate name to Skydance Corporation and transfer its Class B common stock from Nasdaq to the New York Stock Exchange under the new ticker symbol SKYD. The exchange listing transfer and corporate rebranding are scheduled to take effect at market open on October 6, 2026, formally marking the completion of its transformative acquisition of Warner Bros. Discovery.
The announcement caps months of intensive regulatory review. On September 30, 2026, the U.S. District Court for the Northern District of California approved a formal consent decree resolving antitrust litigation filed by 12 state attorneys general, clearing the final legal hurdle for closing the transaction. As markets prepared for the combination during Friday trading on October 2, 2026, the company also confirmed key executive appointments, warrant distribution timelines, and binding theatrical distribution commitments.
Key Takeaways
- Corporate Rebranding & Ticker: Paramount Skydance will amend its certificate of incorporation to become Skydance Corporation, trading on the NYSE as SKYD beginning at the opening bell on October 6, 2026.
- Antitrust Settlement Approved: A federal judge entered the States Consent Decree on September 30, 2026, resolving claims under Section 7 of the Clayton Act and modifying the no-close injunction.
- Executive Leadership: Former Mattel chief Ynon Kreiz joins as Co-CEO and director effective October 5, 2026, while David Ellison continues as sole principal executive officer and CEO.
- Theatrical Commitments: Skydance agreed to release at least 30 films annually in the first two years (including 20 wide releases) and 32 films annually in years three through five.
Antitrust Settlement and Federal Court Order
The closing follows extensive antitrust scrutiny. Earlier this year, the U.S. Department of Justice cleared the acquisition, but a coalition of 12 state attorneys general—including California, New York, Massachusetts, and Washington—filed suit in federal court under Section 7 of the Clayton Act seeking to block the deal.
According to an SEC Form 8-K filed on September 30, 2026, the U.S. District Court for the Northern District of California entered the final States Consent Decree in State of California et al. v. Paramount Skydance Corp. et al. (Case No. 4:26-cv-07116-AMO). The judicial order modified the existing no-close injunction, allowing the merger with Warner Bros. Discovery to proceed to final closing.
To secure state approval, Skydance entered into binding operational commitments spanning a five-year period. Specifically, the combined company agreed to release at least 30 films in the United States in each of the first two years, and 32 films in each of years three through five. Crucially for cinema operators, at least 20 titles in each of the first two years (and 21 titles in subsequent years) must receive wide theatrical distribution across at least 2,000 screens. Furthermore, the decree mandates that at least four independent films be released annually, and at least 50 percent of qualifying releases must be produced or co-produced by the company.
NYSE Listing Transfer and Ticker Change
In a subsequent Form 8-K filed on October 2, 2026, the company detailed the mechanics of its exchange listing transition. Paramount Skydance will withdraw its Class B common stock from The Nasdaq Global Select Market after the market close on Monday, October 5, 2026. Trading will commence on the New York Stock Exchange at the opening bell on Tuesday, October 6, 2026, under the new ticker symbol SKYD.
Simultaneously, the board approved an amendment to the certificate of incorporation to change the corporate entity name from Paramount Skydance Corporation to Skydance Corporation. While the corporate parent adopts the Skydance moniker, management confirmed to CNBC reporting that Paramount and Warner Bros. will be retained as iconic consumer-facing studio sub-brands.
| Feature | Prior Structure (Through Oct. 5, 2026) | Combined Entity (Effective Oct. 6, 2026) |
|---|---|---|
| Corporate Name | Paramount Skydance Corporation | Skydance Corporation |
| Primary Exchange | Nasdaq Global Select Market | New York Stock Exchange (NYSE) |
| Trading Symbol | PSKY | SKYD |
| Executive Leadership | David Ellison (CEO) | David Ellison (CEO & Principal Exec) & Ynon Kreiz (Co-CEO) |
| Annual Film Commitment | Discretionary studio slate | 30 films/yr (Y1-2), 32 films/yr (Y3-5); ≥20 wide releases |
| Warrant Distribution | Authorized conditional distribution | Record date Oct. 5, 2026; issuance on or about Oct. 13, 2026 |
Dual-Leadership Structure and Governance
As disclosed in an SEC Form 8-K filed on October 1, 2026, the Board of Directors appointed former Mattel Chairman and CEO Ynon Kreiz as Co-Chief Executive Officer and a member of the Board, effective October 5, 2026. Under the terms of his five-year letter agreement, Kreiz will lead operational integration across studio assets, consumer products, and global distribution.
The filing clarifies that David Ellison will remain the sole principal executive officer of the corporation following the appointment. The management structure is designed to separate overarching strategic and creative direction under Ellison from large-scale corporate integration and commercial licensing under Kreiz, who previously oversaw Mattel’s cinematic and IP expansion.
Capital Structure and Warrant Distribution Timeline
Investors tracking the transaction face immediate portfolio dates. In an SEC Form 8-K filed on September 25, 2026, the board established a record date of the close of business on October 5, 2026, for a distribution of warrants to purchase Class B common stock. The issuance of these warrants is expected on or about October 13, 2026, contingent on final closing.
Because the listing is migrating from Nasdaq to the NYSE, Nasdaq will not establish an ex-dividend date for the warrants. Instead, the NYSE will announce the ex-date on or about October 6, 2026, concurrent with the start of trading under SKYD. The company cautioned that investors must hold their Class B common shares through the distribution date to receive the warrants.
Risks and What to Watch Next
While regulatory clearance is secured, operational and market integration risks remain prominent. The combined company inherits substantial legacy indebtedness, ongoing cord-cutting headwinds in linear television, and the financial burden of meeting strict theatrical volume quotas over the next five years. Furthermore, as noted in the company’s regulatory disclosures, Skydance operates under a dual-class share structure where voting control remains heavily concentrated, limiting governance influence for Class B public shareholders.
For investors navigating capital markets developments, ECMSource provides background guidance in our Start Here reference hub. Key upcoming milestones to monitor include:
- Monday, October 5, 2026 (Market Close): Final session of Class B trading on Nasdaq under PSKY and the record date for the warrant distribution.
- Tuesday, October 6, 2026 (Market Open): Official listing and commencement of regular-way trading on the NYSE under ticker SKYD.
- Tuesday, October 13, 2026: Targeted distribution date for Class B warrants, subject to final settlement confirmation.
- Q3 2026 Earnings (November 2026): Initial unified guidance and consolidated financial presentation from Co-CEOs David Ellison and Ynon Kreiz.
Disclosure: This article is for informational purposes only and is not investment advice.
Sources
- U.S. Securities and Exchange Commission: Paramount Skydance Corporation Form 8-K (October 2, 2026) – Name Change and NYSE Ticker Symbol SKYD
- U.S. Securities and Exchange Commission: Paramount Skydance Corporation Form 8-K (October 1, 2026) – Appointment of Ynon Kreiz as Co-Chief Executive Officer
- U.S. Securities and Exchange Commission: Paramount Skydance Corporation Form 8-K (September 30, 2026) – Entry of States Consent Decree in Northern District of California
- U.S. Securities and Exchange Commission: Paramount Skydance Corporation Form 8-K (September 25, 2026) – Transfer of Listing from Nasdaq to NYSE and Warrant Record Date
- CNBC: David Ellison says combined Paramount and Warner Bros. Discovery will be named Skydance (October 2, 2026)