The two biggest names in Hollywood history are about to share one corporate identity. Paramount Skydance chief executive David Ellison announced on Friday that the combined Paramount–Warner Bros. Discovery company will be called Skydance once their roughly $110 billion merger closes, a deal expected to complete on Tuesday, October 6 — creating one of the largest media combinations in history.

Table of Contents

  1. What was announced
  2. The battle to get here
  3. What changes for viewers
  4. Leadership and the ticker switch
  5. What it means for Hollywood
  6. FAQ
  7. Sources
  8. Read more on Chronicle

What was announced

Ellison revealed the name in an address to employees this week, according to TechCrunch. Skydance is the name of Ellison's original film production company — and the name he now wants to give the enlarged group rather than inventing an entirely new brand.

The thinking, Ellison said, was to avoid letting a new corporate identity overshadow the two century-old studio names. "We never wanted a new corporate identity to diminish, alter or overshadow either one," he wrote on X, per Reuters. "Instead, we wanted a name that would give the combined company an identity of its own while allowing Paramount and Warner Bros — and all our extraordinary brands — to remain in the spotlight."

The new company will be an entertainment behemoth spanning film, television and news: Paramount Pictures, Warner Bros., CBS, CNN, MTV, TBS, Comedy Central, Food Network, Paramount+ and HBO Max under a single corporate home. It will control franchises including "Mission: Impossible," "Harry Potter," "The Lord of the Rings," "Game of Thrones," the DC Universe and "Yellowstone."

The move is not universally admired. "The name is ego-driven. It reminds everyone that the most iconic Hollywood brands answer to Ellison and it is his company who won out," said Ross Benes, senior analyst at Emarketer, quoted by Reuters.

The battle to get here

The deal followed a drawn-out corporate battle. Before the broader Paramount transaction moved forward, Netflix had agreed to acquire Warner Bros.' streaming and studio businesses — a rival bid that ultimately fell away.

Then came the legal fight: twelve states, led by California, challenged the merger, arguing it would create a media giant capable of driving up film and TV prices and harming consumers and workers. The standoff ended on September 21 with a settlement between Paramount Skydance and the state attorneys general. On September 30, a US federal judge entered a consent decree and modified an earlier order that had prevented the deal from closing — clearing one of the final legal hurdles for the $110 billion combination.

Paramount and Warner Bros. Discovery subsequently confirmed October 6 as the anticipated closing date, subject to customary closing conditions.

What changes for viewers

One of the most-watched questions of the deal — what happens to HBO Max and Paramount+ — now has an answer. The company has decided against folding its two flagship streaming platforms into one: both will keep operating under their own brands, and Skydance intends to sell them together as a bundle rather than build a single combined service, according to reporting by Deadline.

Paramount and Warner Bros. will also continue to operate as distinct labels and sub-brands inside the larger Skydance structure, preserving the familiar logos that have opened studio tentpoles for generations. Ellison told employees that Warner's departing film chiefs were leaving and sketched parts of the studio's upcoming slate, which includes a sequel to "Barbie," according to Variety.

Leadership and the ticker switch

Behind the scenes, the rebrand comes with practical changes. Per a regulatory filing, the legal name will shift to Skydance Corporation on October 6. On the same day, the company's Class B shares are expected to move from Nasdaq to the New York Stock Exchange, changing their ticker symbol from PSKY to SKYD.

Ellison will remain Chairman and CEO, overseeing strategy, creative and technology. Sharing the top job as co-CEO and board member will be Ynon Kreiz, who is stepping down as CEO of Mattel to oversee day-to-day operations and the integration of the combined businesses. Kreiz's appointment becomes effective at closing.

What it means for Hollywood

The transaction, valued at about $110 billion including debt, is one of the largest media deals in recent years — and a sign of how far consolidation has gone. Two of Hollywood's legacy studios, once bitter rivals, now belong to the same balance sheet, with a streaming bundle and an unmatched content library to defend them.

Whether scale translates into creative strength is the open question. Ellison has described the mission as building a next-generation global media company grounded in high-quality storytelling and technology. Regulators will be watching how closely the combination affects prices, jobs and competition — the same scrutiny that shaped the twelve-state settlement will likely follow the new Skydance long after the October 6 closing.

FAQ

When does the merger close?

The companies say the roughly $110 billion deal is expected to close on Tuesday, October 6, subject to customary closing conditions — the same day the legal name becomes Skydance Corporation.

Will HBO Max and Paramount+ merge into one app?

No. The company plans to keep both services running under their own brands and sell them as a bundle instead of building a single combined platform.

What happened to the antitrust challenge?

A California-led coalition of twelve states sued to block the deal; a September 21 settlement was approved, and on September 30 a federal judge entered an order allowing the transaction to close.

Who runs the combined company?

David Ellison remains Chairman and CEO, with Mattel's outgoing chief executive Ynon Kreiz joining as co-CEO for day-to-day operations and integration.

Sources

  • TechCrunch — "Paramount and Warner Bros. Discovery to become Skydance" (2026/10/02).
  • Reuters (via WIXX) — "David Ellison says combined Paramount and Warner Bros Discovery will be named Skydance" by Anzar Mehraj (2026/10/02).
  • The Morning Brief — "Paramount-Warner Bros. Merger Adopts Skydance Name," citing Variety and Deadline (2026/10/03).
  • OTT Watcher — "Paramount-Warner Bros Discovery company to be named Skydance" (2026/10/03).

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