Paramount co-CEO David Ellison has revealed Skydance to be the final name of the company when it closes on its acquisition of Warner Bros Discovery (WBD) next week.
Ellison announced the name Friday after joining the social media platform X (formerly Twitter), saying Paramount and Warner Bros will retain their existing identities while Skydance serves as the parent company.
“We never wanted a new corporate identity to diminish, alter or overshadow either one,” Ellison said. “Instead, we wanted a name that would give the combined company an identity of its own while allowing Paramount and Warner Bros — and all our extraordinary brands — to remain in the spotlight.”
The merger is expected to close on Tuesday after Paramount secured a much-needed sign-off from a federal judge in Oakland, who approved the company’s settlement with a dozen state attorneys general in a closely-watched antitrust case brought earlier this summer.
Skydance will trade its Class B on the New York Stock Exchange, moving them over from the NASDAQ, where Paramount’s shares currently trade. The company will also unveil a new ticker symbol, SKYD, sunsetting its two existing ones PSKY and WBD.
Ellison founded the original Skydance production company in 2006, choosing the name partly because of his interest in aviation. The studio went on to produce films including “Top Gun: Maverick” and “Mission: Impossible — Ghost Protocol.”
The new Skydance will encompass Paramount Pictures, Warner Bros, CBS, CNN, HBO and numerous other television and production operations, along with streaming services Paramount Plus and HBO Max.
The corporate transition is also bringing significant leadership changes.
Former Mattel Chief Executive Officer Ynon Kreiz will become Co-Chief Executive Officer alongside Ellison. Kreiz is expected to focus on day-to-day management and integration while Ellison concentrates on creative direction, strategy, technology and capital allocation.
Paramount Pictures Co-Chairs Dana Goldberg and Josh Greenstein are expected to assume broader responsibilities across the combined film operations, while Warner Bros Motion Picture Group Co-Chairs and Co-Chief Executive Officers Pamela Abdy and Michael De Luca are departing, according to reports.
The change follows a difficult 2026 for Warner Bros’ film operation, despite its stronger performance in 2025. Several releases have struggled at the domestic box office this year.
Other pieces of the leadership structure are also taking shape. Casey Bloys is expected to retain a major role overseeing HBO and streaming following the departure of Paramount streaming chief Cindy Holland, while Ellison has been working to retain CNN Chief Executive Officer Mark Thompson.
Ellison and Kreiz will inherit the task of integrating the two entertainment companies while pursuing approximately $6 billion in targeted cost savings and managing roughly $80 billion in combined debt.
