The set-to-be-merged Paramount-Warner Bros. Discovery will sit under the umbrella banner of Skydance.
All the barriers and hurdles set in CEO David Ellison’s way have seemingly fallen by the wayside.
Ellison has got his wish, and his $110 billion mega merger of two of Hollywood’s biggest studios is set to take effect on Tuesday.
Paramount-Warner Bros. Discovery will become Skydance
The newly merged studios will sit under the name of Skydance, the production studio Ellison founded back in 2006.
He then took control of Paramount in 2025, naming that merger Paramount Skydance.
Now, his ultimate prize will sit under that original company name.
Ellison announced on Friday, via a post on X, where he also explained his reasoning.
“We chose this name for a few important reasons,” Ellison said.
“First and foremost, as we bring Paramount and Warner Bros. together, we wanted to preserve what has made each of these studios iconic.
“Both have distinct identities, extraordinary legacies and brands that have resonated with audiences for generations.
“We never wanted a new corporate identity to diminish, alter or overshadow either one.
“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.”
A change in leadership
Changes are already afoot in the leadership structure of Ellison’s studio empire.
Ellison’s role as chairman and CEO will be to lead strategy, creative and technology functions, and he has already recruited a co-CEO.
Stepping down as Mattel CEO to take on the role is Ynon Kreiz.
Kreiz’s task will be managing day-to-day operations and the integration of the merging businesses.
There’s also a major change coming at the head of the film departments.
Warner Bros. film chiefs Mike De Luca and Pam Abdy are departing.
Instead, the film operations are set to be overseen by the incumbent Paramount figures, motion picture co-chairs Josh Greenstein and Dana Goldberg.
In the world of television, there will be a similar Paramount-led structure, with Chair of TV Media George Cheeks overseeing the combined television studios of the merger.
Meanwhile, streaming duties fall under HBO’s Casey Bloys, who will now run both Paramount+ and HBO Max, and it is hinted that the two streaming services will be bundled, rather than fully combined.
For the time being, the two-pronged DC Studios leadership of James Gunn and Peter Safran will remain unchanged.
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