David Ellison says combined Paramount and Warner Bros.Discovery will be named Skydance
David Ellison said the combined company will keep Paramount and Warner Bros. brands while targeting $6 billion in cost cuts.
- On Friday, CEO David Ellison announced the combined Paramount and Warner Bros. Discovery entity will be named Skydance, with both studios retaining their identities as sub-brands under the new corporate umbrella.
- The $111 billion merger cleared its final regulatory hurdle on September 30 after a federal judge approved an antitrust settlement with 12 states, paving the way for the deal to close on Tuesday, October 6.
- Skydance will control franchises including Harry Potter, Game of Thrones, Yellowstone, Mission: Impossible, and Top Gun, alongside networks CBS, CNN, MTV, and HBO Max, creating an entertainment portfolio spanning more than 200 years of combined studio history.
- Middle Eastern sovereign wealth funds from Saudi Arabia, Qatar, and the United Arab Emirates will own 38.5% of the company through $24 billion in commitments, while Oracle founder Larry Ellison personally guaranteed $46.7 billion in equity financing.
- David Ellison will serve as chairman and CEO while former Mattel chief Ynon Kreiz joins as co-CEO on October 5, though the combined company faces significant debt projected north of $80 billion after financing the acquisition.
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David Ellison Unveils Skydance Name and Leadership for Paramount-Warner Bros. Era | EURweb | Black News, Culture, Entertainment & More
*David Ellison is putting the Skydance name atop his expanding media empire as Paramount prepares to complete its acquisition of Warner Bros. Discovery on Oct. 6. The combined company will operate as Skydance, bringing Paramount and Warner Bros. under a new corporate identity without eliminating either studio’s name. Ellison announced the move in an Oct. … The post David Ellison Unveils Skydance Name and Leadership for Paramount-Warner Bros. Era…
This Tuesday the merger between Paramount and Warner will become official with the announcement of the foundation of Skydance, the new mega studio owned by David Ellison
David Ellison will be co-CEO along with Ynon Kreiz and Andy Gordon, the president
Ellison Empire Settles on Skydance, Takes Big Bond Hit, Names Team
Having cleared the biggest legal hurdle, the Ellison media empire has assumed control of WBD, dumped all over the bond markets, and named their leadership team for the new organization which will be called Skydance after David Ellison's studio.
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