Paramount and Warner Bros. Discovery are set to operate as Skydance once their merger concludes, Paramount CEO David Ellison announced on Friday. Skydance is the name of Ellison’s original film production company.
The deal, valued at roughly $110 billion, is expected to close on October 6. It will combine two major Hollywood studios, Paramount+ and HBO Max, along with networks including CBS, CNN, MTV, TBS, Comedy Central, and Food Network. Skydance will also control franchises such as “The Lord of the Rings,” “Game of Thrones,” the DC Universe, and “Yellowstone.”
The merger followed a corporate battle, including a previous agreement for Netflix to acquire Warner Bros.’ streaming and studio businesses. Twelve states had challenged the deal, citing concerns about reduced competition and potential harm to consumers and workers, but a judge approved a settlement with state attorneys general this week.
Ellison stated that the Paramount and Warner Bros. brands will remain central. He wrote on X that the new name provides the company with “an identity of its own” while allowing both studios to “remain in the spotlight.”