Paramount and Warner Bros. Discovery to operate as Skydance after merger

Paramount and Warner Bros. Discovery will operate under the Skydance name once their merger closes, Paramount CEO David Ellison announced Friday. Skydance is the name of Ellison’s original film production company.

The deal, valued at roughly $110 billion, is expected to close October 6. It will bring together two major Hollywood studios, the Paramount+ and HBO Max streaming services, and networks including CBS, CNN, MTV, TBS, Comedy Central and Food Network. The combined company will also control franchises including “The Lord of the Rings,” “Game of Thrones,” the DC Universe and “Yellowstone.”

The merger followed a prolonged corporate battle. Netflix had agreed to acquire Warner Bros.’ streaming and studio businesses before the broader Paramount deal moved forward. Twelve states challenged the deal, arguing it could reduce competition and harm consumers and workers. A judge approved a settlement with the state attorneys general this week.

Ellison said the Paramount and Warner Bros. brands will remain central. In a post on X, he said the company did not want a new corporate identity to diminish, alter or overshadow either brand. He said Skydance gives the company an identity of its own while allowing both studios to remain in the spotlight.