Paramount Skydance Corporation (NASDAQ: PSKY) plans to become Skydance Corporation and change its stock ticker to SKYD on October 6. The company disclosed the planned changes in an October 2 regulatory filing.
The ticker switch accompanies a move from Nasdaq to the New York Stock Exchange. Trading on Nasdaq is expected to end at the October 5 close, with the Class B shares due to begin trading on the NYSE at the October 6 open.
October 6 is also the expected closing date for Paramount’s merger with Warner Bros. Discovery (NASDAQ: WBD). Their closing update says the transaction remains subject to customary conditions, so the acquisition has not yet been completed.
Eligible Warner Bros. Discovery shareholders will receive cash rather than shares in the renamed group. The merger consideration is $31 per share plus a daily accrual after September 30, bringing the payment to approximately $31.0167 if the deal closes on October 6.
The announcement follows the shareholder approval previously covered by MarketSpeaker. David Ellison has said the Paramount and Warner Bros. studio identities will remain central to the combined business; Skydance will be the parent-company identity.
