Paramount and Warner Bros. Discovery Merger to Operate Under Skydance Name

The merger of Paramount and Warner Bros. Discovery will operate under the name Skydance. CEO David Ellison announced this in his first post on X. According to Variety, CNBC, and soapcentral.com, the transaction is set to close on Tuesday, October 6, 2025.

Ellison will become the chairman and CEO of the new company. Ynon Kreiz, former head of Mattel, will take on the role of co-CEO starting October 5. The name Skydance is derived from Ellison’s original production company, Skydance Media (per Variety).

Skydance Corporation to Change Ticker and Stock Exchange

The stock ticker will change from PSKY to SKYD. According to Variety, the company will move from the Nasdaq to the New York Stock Exchange (NYSE) on October 6 and plans to update its registration to officially become Skydance Corporation.

Ellison commented on the name: "We have big goals for Skydance, and we intend to pursue them with passion, imagination and a willingness to take smart risks."

HBO Max and Paramount+ to Merge Into One Service

Ellison previously stated that the two streaming services would merge into one. 9to5mac reports that the combined service is expected to have around 200 million subscribers. The HBO brand will remain a sub-brand. "HBO should stay HBO," Ellison said. The timeline for the merger has not yet been announced.

Merger Value and Approval

The value of the transaction is approximately $111 billion, according to Variety, while CNBC cites around $110 billion. Paramount Skydance outbid Netflix in the competition for Warner Bros. Discovery. The merger was approved by regulators after resolving an antitrust lawsuit filed by 12 state attorneys general. A judge approved the deal on September 30 (per Variety).

According to Variety, the combined company will have over $80 billion in debt. Paramount is issuing bonds worth approximately $42.4 billion and securing new loans totaling $8.5 billion and €850 million.

Brands Under Skydance

Skydance will encompass brands such as CBS, MTV, Showtime, Paramount+, Nickelodeon, Comedy Central, TNT, CNN, TCM, Adult Swim, DC Studios, HBO/HBO Max, and Cartoon Network. Franchises include Harry Potter, Lord of the Rings, Game of Thrones, DC Universe, Yellowstone, Mission: Impossible, Top Gun, Star Trek, Transformers, and SpongeBob SquarePants.

According to CNBC, Paramount and Warner Bros. studios plan to release 35 films next year. The merger agreement between Paramount Skydance and Warner Bros. Discovery was reached in February 2025, with Skydance completing the acquisition of Paramount in August 2025 (per CNBC).