Paramount, Warner Bros. Discovery to operate under Skydance name

Paramount and Warner Bros. Discovery are set to operate under the name Skydance once their approximately $110 billion merger is finalized, according to an announcement by Paramount CEO David Ellison on Friday. Skydance is the name of Ellison's existing film production company.

The merger, anticipated to close on October 6, will unite two major Hollywood studios, streaming services Paramount+ and HBO Max, and a portfolio of networks including CBS, CNN, MTV, TBS, Comedy Central, and Food Network. The combined entity will also gain control over significant franchises such as "The Lord of the Rings," "Game of Thrones," the DC Universe, and "Yellowstone."

This consolidation follows a protracted corporate negotiation period. Netflix had previously reached an agreement to acquire Warner Bros.' streaming and studio assets before the larger Paramount transaction gained momentum. A group of twelve states had raised concerns about potential reductions in competition and harm to consumers and workers, but a settlement was reached with the state attorneys general this week, paving the way for judicial approval.

Ellison emphasized that the Paramount and Warner Bros. brands will continue to be prominent. He stated on X that the intention was never to diminish or overshadow these established identities. The adoption of the Skydance name, he explained, provides the company with its own distinct identity while allowing both studios to maintain their visibility.