David Ellison has chosen Skydance as the corporate name for the company created by the Paramount-Warner merger. The change will take effect after Paramount Skydance completes its acquisition of Warner Bros. Discovery.
The companies expect to close the transaction on Oct. 6, subject to customary conditions. The combined business will bring two of Hollywood’s oldest studios under one corporate parent.
Skydance Name Will Lead Paramount-Warner Merger
Ellison announced the new name on Oct. 2. He said the decision would give the combined company an independent identity without replacing its established entertainment brands.
“We never wanted a new corporate identity to diminish, alter or overshadow either one,” Ellison wrote in a social media post.
The company plans to change its legal name to Skydance Corporation when the merger closes. Paramount Pictures, Warner Bros. and other brands will continue operating under their familiar names.
Ellison founded the original Skydance production company nearly two decades ago. The studio later produced movies and television projects with Paramount before completing an $8 billion merger with Paramount Global in 2025.
Major Entertainment Brands Come Together
The new Skydance will control a large collection of film, television, streaming and gaming properties.
Paramount’s current portfolio includes CBS, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+ and Pluto TV. It also includes the “Mission: Impossible,” “Top Gun” and “Sonic the Hedgehog” franchises.
Warner Bros. Discovery will add HBO, CNN, Cartoon Network, Food Network, HGTV, Discovery Channel, TBS and TNT. Its major entertainment properties include DC Comics, “Harry Potter” and “The Lord of the Rings.”
The merger could give Skydance a larger position in the global competition against Disney, Netflix, Amazon and other media companies. However, it also concentrates more entertainment properties under one corporate owner.
Merger Clears Major Legal Challenge
A federal judge cleared an important obstacle on Sept. 30 by approving a settlement between Paramount and 12 states. The states had sued to block the transaction over concerns about competition and consumer prices.
The acquisition carries an equity value of approximately $81 billion. Its total value reaches about $111 billion when Warner Bros. Discovery’s debt is included.
The settlement requires the combined company to meet several conditions. These include maintaining separate negotiations for certain cable channels and establishing an editorial independence board for CBS News and CNN.
New Leadership and Stock Symbol
Ellison will remain chairman and chief executive of the combined company. Former Mattel CEO Ynon Kreiz will serve as co-CEO and join its board.
Under the leadership plan, Ellison will oversee strategy, technology and creative direction. Kreiz will manage daily operations and the integration of the two companies.
Skydance also expects to move its Class B shares from Nasdaq to the New York Stock Exchange. The stock will trade under the new symbol SKYD, replacing the current PSKY ticker.
For audiences, the most recognizable studio and network names will remain visible. The larger change will occur behind the scenes as Skydance begins managing one of the entertainment industry’s broadest collections of media brands.