Hollywood
Paramount-Warner Bros. parent company to become Skydance Corporation from 6 October
David Ellison says neutral corporate identity will preserve Paramount and Warner Bros. brands
MUMBAI: The newly combined parent company created through the merger of Paramount Global and Warner Bros. Discovery will operate under a new corporate identity, Skydance Corporation.
David Ellison announced the name on 2 October, saying the decision is intended to give the combined business its own identity while allowing its established entertainment brands to retain their individual identities.
The company’s legal name is scheduled to change to Skydance Corporation on 6 October 2026. Its Class B common stock is also expected to move from Nasdaq to the New York Stock Exchange, where it will trade under the ticker SKYD, replacing PSKY.
Ellison said the new corporate identity was not intended to diminish or overshadow Paramount or Warner Bros. The combined company will continue to house major brands including Paramount Pictures, Warner Bros., HBO, CBS, CNN and DC.
“Paramount and Warner Bros. shaped over a century of culture,” Ellison said in a post on X, adding that the combination was intended to equip the two studios with a more powerful operating platform rather than rewrite their history.
The executive described Skydance as a “creative-first home for bold, quality storytelling”, with ambitions centred on passion, imagination and taking smart risks.
The structure also brings major film and entertainment franchises under one corporate umbrella, including Harry Potter, The Lord of the Rings, the DC Universe, Top Gun, Mission: Impossible and Transformers.
Ellison will serve as chairman and CEO of Skydance Corporation. He has also appointed Ynon Kreiz as co-CEO, with Kreiz set to oversee day-to-day operations and integration.
The merger combines the companies’ streaming businesses, including HBO Max and Paramount+, alongside a broad portfolio of television networks such as CBS, CNN, MTV, Comedy Central, Food Network and TBS.
The combined business is targeting around $6 billion in operational cost synergies while carrying roughly $80 billion in combined debt.
The transaction received final US federal court approval following a settlement with state attorneys general that had raised antitrust concerns.
For Ellison, the Skydance name also marks a return to the identity of the production company he founded, while providing a separate corporate banner for the two historic Hollywood studios.
