Paramount-Warner Bros. Discovery merger to create Skydance
What's the story
Paramount and Warner Bros. Discovery will operate as Skydance after their merger is finalized, Paramount CEO David Ellison has announced. Skydance is the name of the original film production company, Skydance Media, which Ellison founded in 2006. The $110 billion deal is expected to close on October 6, combining two major Hollywood studios, Paramount+ and HBO Max, along with networks like CBS, CNN, MTV, TBS, Comedy Central, and Food Network under the Skydance banner.
Franchise control
Skydance will control major entertainment franchises
The merger will also give Skydance control over major entertainment franchises such as The Lord of the Rings, Game of Thrones, DC Universe, and Yellowstone.
The decision comes after a long corporate battle where Netflix had agreed to buy Warner Bros.' streaming and studio businesses before the broader Paramount deal moved forward.
Legal hurdles
Legal challenges and approvals in the merger process
The merger faced challenges from 12 states, which claimed it could reduce competition and hurt consumers and workers.
However, a judge approved a settlement with the state attorneys general this week.
The decision allows Paramount Skydance to proceed with its acquisition of Warner Bros Discovery, ending a months-long hold-up in the process.
Brand preservation
Ellison explains reasons behind the new name
Ellison stressed the importance of preserving the unique identities and legacies of Paramount and Warner Bros. studios.
He wrote on X, "We chose this name for a few important reasons."
The new name gives the company "an identity of its own" while ensuring both studios "remain in the spotlight."
Corporate changes
Major shift in corporate identity for merged companies
The company will legally change its name to Skydance Corporation on October 6, according to a regulatory filing.
On the same day, its Class B shares will move from Nasdaq to NYSE under the ticker "SKYD," instead of "PSKY."
This marks a major shift in corporate identity for both companies involved in this historic merger.
Twitter Post
We have big goals for Skydance: Ellison
What once was the peak, is now just the beginning.
— David Ellison (@davidellison) October 2, 2026
Paramount and Warner Bros. shaped over a century of culture. By combining them, we aren't rewriting history — we're equipping these iconic studios with a more powerful engine. Together, we are Skydance: a creative-first home for… pic.twitter.com/uInLRY3IrE