Skydance's October 15 market cap was less than half Warner Bros. Discovery and Paramount's combined pre-merger value

Variety reports Warner Bros. Discovery had a $77.7 billion market cap and Paramount Skydance was worth around $11 billion on October 5, their last trading day before the merger. The new Skydance Corp. had a $36.6 billion market cap on October 15, excluding warrants. Variety says analysts and credit-rating agencies are skeptical the company can meet its projected cost savings while paying down nearly $80 billion in net debt.