Paramount and Warner Bros. Discovery are set to combine under the Skydance name, bringing major studios, streaming platforms, television networks and entertainment franchises under one corporate umbrella.
Paramount and Warner Bros. Discovery are set to operate under the Skydance name after their planned merger is completed.
Paramount CEO David Ellison announced that the combined company will be known as Skydance Corporation. The name comes from Skydance Media, the film and television production company founded by Ellison in 2006.
The transaction, valued at approximately $110 billion, is expected to close on October 6, marking a major change in the structure of Hollywood's entertainment industry.
The merger will combine the businesses of Paramount and Warner Bros. Discovery under a single corporate structure.
The expanded company will bring together major streaming services, film studios and television networks. Paramount+ and HBO Max will become part of the same corporate group, alongside television brands and networks including CBS, CNN, MTV, TBS, Comedy Central and Food Network.
The combination will create a large entertainment portfolio spanning movies, television, streaming and other media businesses.
The merger will also place several high-profile entertainment franchises within the combined company's portfolio. These include The Lord of the Rings, Game of Thrones, the DC Universe and Yellowstone, among other major properties.
The combination of these franchises with Paramount's existing film and television assets will give Skydance control over a broad collection of globally recognised entertainment brands.
The agreement follows a prolonged period of negotiations and competing proposals involving Warner Bros. Discovery. Netflix had previously agreed to acquire Warner Bros.' streaming and studio businesses before the broader Paramount transaction moved forward.
The eventual Paramount-Warner Bros. Discovery agreement represents a significant restructuring of the entertainment companies and their respective assets.
The transaction also encountered legal opposition during the approval process. Attorneys general from 12 states had raised concerns that the merger could reduce competition and potentially affect consumers and workers.
The legal dispute created an additional hurdle for the companies as they worked toward completing the transaction.
A judge this week approved a settlement involving the state attorneys general, allowing the Paramount Skydance transaction to proceed and removing a major obstacle to the planned combination.
David Ellison said the choice of Skydance was intended to create a distinct corporate identity while preserving the heritage of the two major studios.
According to Ellison, the new name was selected for several reasons, including giving the merged business an identity of its own.
At the same time, he stressed the importance of keeping both Paramount and Warner Bros. visible within the company's entertainment operations.
The approach is designed to retain the recognition and legacy associated with the two studios while introducing a new corporate identity.
Although the parent company will adopt the Skydance name, the Paramount and Warner Bros. brands will continue to play an important role in the entertainment business.
Both studios have long histories in film and television, with extensive libraries, established franchises and globally recognised brands.
Maintaining their individual identities could allow the merged company to preserve audience recognition while operating the businesses within a broader corporate structure.
The corporate transition will become official on October 6, according to a regulatory filing. On that date, the company's legal name will change to Skydance Corporation.
The change represents one of the most visible effects of the merger and formally establishes the new corporate identity.
The merger will also bring a change to the company's stock-market listing.
The company's Class B shares, currently listed on Nasdaq under the ticker PSKY, are scheduled to move to the New York Stock Exchange (NYSE).
Following the transition, the shares will trade under the new ticker SKYD. The move will accompany the legal name change and mark the completion of a significant corporate restructuring.
The combination of Paramount and Warner Bros. Discovery brings together major film studios, streaming platforms, television networks and entertainment franchises.
The resulting company will operate across several major segments of the entertainment industry, from theatrical releases and television programming to streaming services and established intellectual property.
The merger therefore represents a substantial change in Hollywood's corporate landscape, while the adoption of the Skydance name signals the beginning of a new phase for the combined business.