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Paramount Skydance Chief Executive David Ellison said Friday, October 2, that the combined company formed by Paramount’s planned acquisition of Warner Bros. Discovery will be named Skydance. The announcement comes four days before the companies’ currently scheduled October 6 closing, which remains subject to customary closing conditions.
The name change gives the enlarged media company an identity separate from its two major studio brands, Ellison said in a social media post. Paramount and Warner Bros. will remain prominent brands within the company, rather than being replaced by the new corporate name. The shift also puts Ellison’s Skydance production company at the center of the combined group’s corporate identity.
A new corporate name, with established studios retained
Reuters reported that the company plans to change its legal name to Skydance Corporation on October 6, in connection with the merger’s expected completion. In his announcement, Ellison said the new identity was intended to give the combined company a name of its own while allowing Paramount, Warner Bros. and its other brands to remain in the spotlight.
Skydance was founded by Ellison about two decades ago and merged with Paramount Global in 2025, creating Paramount Skydance. The acquisition of Warner Bros. Discovery would add another major portfolio of film, television, streaming and news assets. Company materials list brands including Paramount Pictures, CBS, Nickelodeon and Paramount+ on one side, and HBO, CNN, Warner Bros. and Discovery properties on the other.
The new corporate name does not, by itself, signal that the underlying studios or consumer-facing services will be renamed. Ellison’s stated rationale was to keep Paramount and Warner Bros. identities visible. The companies have not detailed any broader branding changes in connection with Friday’s announcement.
Share listing and ticker are also set to change
A regulatory filing cited by Reuters says the company’s Class B shares are expected to transfer from Nasdaq to the New York Stock Exchange on the closing date. The shares are expected to trade under the ticker symbol SKYD instead of PSKY. The anticipated timing links the corporate rebranding with a change in the company’s stock-market identity.
Paramount and Warner Bros. Discovery announced on September 30 that they expected the merger to close October 6. Their agreement provides for WBD shareholders to receive $31 in cash per share, plus a daily ticking-fee adjustment for days after September 30 until closing. If the deal closes on October 6 as anticipated, the companies said the payment would be $31.01666668 per share.
Legal challenge was settled before the planned close
The merger’s path to closing cleared a major legal obstacle this week. On September 30, a federal judge approved Paramount’s settlement with a group of 12 states that had sued to block the acquisition. The states, led by California, had argued that the transaction could reduce competition and harm consumers in areas including film and television.
The settlement followed months of litigation and included commitments from Paramount related to U.S. film production, a fund for workers displaced by the merger, and editorial monitoring at CNN and CBS, according to The Associated Press. The judge found the agreement met the legal standard for approval, allowing the companies to proceed toward closing. The scheduled date is still an expectation rather than a completed transaction.
Reuters reported the proposed acquisition’s enterprise value at $110 billion. The deal would bring together two major Hollywood studios and combine extensive television, streaming and news operations. The expanded portfolio includes HBO Max and CNN alongside CBS and Paramount+, as well as Warner Bros. and Paramount film operations.
Leadership and integration remain immediate priorities
Ellison announced this week that Ynon Kreiz, the current Mattel chief executive, would become co-CEO of the combined company at closing. Company disclosures say Kreiz is expected to take on operational responsibilities while Ellison focuses on strategy, although management roles and execution will ultimately be tested after the transaction closes.
Reuters reported that the leaders face a target of $6 billion in cost savings and roughly $80 billion in combined debt. Those figures underscore the financial and operational work ahead as the companies integrate, alongside decisions about how to manage overlapping businesses and preserve the separate identities of their studios and media brands.
For now, the confirmed next milestone is the expected October 6 closing, followed by the planned legal-name change and stock-listing transition. The companies have not disclosed a detailed integration timetable or described how the Skydance corporate identity will appear across their businesses. Until closing conditions are satisfied, the acquisition and associated changes remain pending.
