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David Ellison says combined Paramount and Warner Bros.Discovery will be named Skydance
The combined company will keep Paramount and Warner Bros. as sub-brands while Skydance becomes the corporate parent, Ellison said.
- 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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Paramount, Warner Bros. Discovery Merger Set to Become 'Skydance'
Get latest articles and stories on Entertainment at LatestLY. CEO David Ellison confirmed the new identity as the two entertainment giants prepare to operate as one company. Entertainment News | Paramount, Warner Bros. Discovery Merger Set to Become 'Skydance'.
·Mumbai, India
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Total News Sources251
Leaning Left26Leaning Right22Center68Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
L 22%
C 59%
R 19%
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