- Paramount Skydance closed a $52 billion debt raise to fund its takeover of Warner Bros. Discovery, ending a turbulent financing process.
- David Ellison named the combined Warner Bros. Discovery and Paramount company Skydance.
- Ellison faces tough decisions about news, movies, streaming, sports and debt at the new company.
- The debt sale smashed records and produced instant losses and angry phone calls, highlighting execution risk in the jumbo financing.
Quotes
“A cast of thousands. Records smashed. Instant losses and angry phone calls.”
“The tech scion has given his combination of Warner Bros. Discovery and Paramount a new name: Skydance.”
“Now he must make tough decisions about news, movies, streaming, sports and debt.”