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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Paramount-Warner Bros. merger survives opposition
A new name was announced last week for the Paramount Skydance-Warner Bros. Discovery merger. Paramount Skydance CEO David Ellison said the new company, Skydance, will be a “creative-first home for bold, quality storytelling.” The announcement marks a significant defeat for progressive activists who devoted considerable money and political muscle to stopping the merger. The two […]
Paramount's acquisition of Warner Bros will give birth to an ogre of American entertainment called Skydance, which confirms the fears of the American arts sector.
CNN Officially Taken Over By Trump Allies
CNN is headed into the hands of a family with close ties to President Donald Trump, putting one of his most frequent media targets under new ownership. The Ellison family’s takeover of CNN parent Warner Bros. Discovery is set to take effect Tuesday through its merger with Paramount. Billionaire Larry Ellison, a close Trump ally, […]
Paramount and Warner Bros. to become one Hollywood giant: Skydance. Here’s how we got here
Skydance-owned Paramount is expected to close its $81 billion takeover of Warner Bros. Discovery on Tuesday. The new Hollywood giant will have a shorter nametag: “Skydance.” But it marks one of the biggest tie-ups ever in the media and entertainment industry. The merger brings two of America’s oldest moviemaking studios together. And HBO Max, titles ranging from “Harry Potter” to “Sinners” and even networks like CNN find themselves under the sam…
Paramount and Warner Bros to become one Hollywood giant: Skydance. Here's how we got here
CHICAGO (AP) — Paramount closed its $81 billion purchase of Warner Bros. Discovery, the companies announced Tuesday — forming a new Hollywood giant now called Skydance.The merger brings two of America’s oldest moviemaking studios together — along with HBO Max, titles ranging from “Harry Potter” to “Sinners,” and even networks like CNN will soon find themselves under the same roof as Paramount+, CBS and the likes of “Top Gun” and “The Godfather.”…
New Hollywood era begins with an epic mega merger between Paramount and Warner Bros.
David Ellison officially takes over as CEO of Skydance, the new mega merger combining Paramount and Warner Bros.(David Becker)LOS ANGELES — A new era in Hollywood is set to begin with a new media conglomerate called Skydance. David Ellison's long-anticipated — and long-feared — deal to consolidate Paramount-Skydance and Warner Bros. Discovery is expected to close Tuesday. The $111 billion merger faced months of public protests, but ultimately pa…
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