Paramount and Warner Bros. Discovery Merger Creates New Entity Named Skydance

Paramount Global and Warner Bros. Discovery announced Friday that they will operate under the name Skydance once their merger is completed. The new moniker honors Skydance Media, the production company founded by Paramount CEO David Ellison.

The combination, valued at approximately $110 billion, is slated to close on October 6. Upon completion, the conglomerate will merge two of Hollywood’s largest studios, alongside streaming platforms Paramount+ and HBO Max. The portfolio also includes a vast array of cable networks such as CBS, CNN, MTV, TBS, Comedy Central, and Food Network, as well as major intellectual property franchises like “The Lord of the Rings,” “Game of Thrones,” the DC Universe, and “Yellowstone.”

The path to consolidation was marked by significant corporate conflict. Earlier in the year, Netflix had reached an agreement to purchase Warner Bros.’ streaming and studio divisions prior to the broader Paramount transaction moving forward. Additionally, a coalition of twelve states filed lawsuits attempting to block the deal, contending that the merger would stifle competition and negatively impact consumers and employees. However, a judge recently approved a settlement agreement with state attorneys general, clearing the final legal hurdle.

Ellison addressed the branding decision on X, stating that the intention was never to diminish or overshadow the legacy of either Paramount or Warner Bros. He explained that while both iconic brands will remain central to the company’s identity, the addition of Skydance provides the new entity with its own distinct presence without detracting from the spotlight on its constituent studios.