Merged Paramount-Warner Bros. Discovery Entity to Adopt Skydance Name

Paramount and Warner Bros. Discovery will be known as Skydance after their merger is finalized, Paramount CEO David Ellison said on Friday. Skydance is the name of Ellison's original film production company, which he founded in 2006 and used to acquire Paramount last year .

The transaction, valued at about $110 billion, is slated to finish on October 6, 2026. It will bring together two major Hollywood studios, Paramount+ and HBO Max, along with networks such as CBS, CNN, MTV, TBS, Comedy Central, and Food Network . Skydance will also hold control of franchises including The Lord of the Rings, Game of Thrones, the DC Universe, and Yellowstone .

Why the Name Skydance

Ellison announced the name on X, explaining that the decision was meant to preserve the distinct identities of both studios. "We never wanted a new corporate identity to diminish, alter or overshadow either one," he wrote. "Instead, we wanted a name that would give the combined company an identity of its own while allowing Paramount and Warner Bros. — and all our extraordinary brands — to remain in the spotlight" .

The name Skydance reflects Ellison's love of aviation, a passion he shares with his father, Oracle co-founder Larry Ellison, who is backing the deal .

Leadership and Structure

David Ellison will serve as chairman and CEO. Ynon Kreiz, the former CEO of Mattel, will join as co-CEO on October 5, overseeing day-to-day operations and integration while Ellison focuses on long-term strategy and creative direction .

The company's Class B common stock will move from Nasdaq to the New York Stock Exchange, trading under the ticker SKYD starting October 6 .

The Road to Approval

The merger received final court approval on September 30, when U.S. District Judge Araceli Martínez-Olguín accepted a settlement with a group of 12 state attorneys general led by California. The states had sued to block the deal on antitrust grounds, arguing it would create a media giant capable of driving up film and TV prices .

As part of the settlement, Paramount agreed to several concessions: releasing at least 30 films in theaters annually, spending an additional $300 million per year on U.S. film production, and creating an editorial independence board to protect CBS News and CNN from ownership pressure .

The combined company will debut with roughly $80 billion in debt and is targeting $6 billion in cost savings, which is expected to result in significant layoffs .