Warner Bros. Discovery to Become Skydance After Paramount Merger
Warner Bros. Discovery is set for a major corporate transformation as its planned merger with Paramount Skydance moves toward completion. The combined company will be called Skydance, according to an announcement from Paramount Skydance CEO David Ellison.
The merger is expected to close on October 6, 2026, subject to the remaining closing conditions.
New Corporate Name: Skydance
The newly combined media company will adopt the name Skydance Corporation. Paramount and Warner Bros. will continue to exist as important entertainment brands under the new corporate structure rather than disappearing completely.
The choice of Skydance gives the new parent company a single corporate identity while allowing the historic Paramount and Warner Bros. brands to remain part of its entertainment portfolio.
A Major Hollywood Merger
The transaction brings together two major media businesses and their extensive collections of entertainment assets. The combined company is expected to include businesses and brands connected with Paramount, Warner Bros., HBO, CBS and CNN, among others.
The deal is valued at roughly $110 billion including debt, making it one of the biggest transactions in the entertainment industry.
What Happens to Warner Bros. Discovery?
Warner Bros. Discovery will no longer serve as the name of the combined parent company once the merger is completed. Its assets will become part of the new Skydance organization.
Warner Bros. and its well-known entertainment franchises are expected to retain their identities, while the new corporate structure will operate under the Skydance name.
The transaction follows months of negotiations, regulatory scrutiny and legal challenges. A settlement with several U.S. states has cleared a major obstacle to completing the merger.
What Comes Next?
David Ellison is expected to lead the new company, while Mattel CEO Ynon Kreiz has been appointed co-CEO to help oversee the combined business. The new leadership will face the challenge of integrating two large media organizations while managing their extensive television, film and streaming operations.
The change marks a new chapter for Warner Bros. Discovery, with Skydance becoming the corporate name of the combined entertainment giant after the merger closes.