David Ellison has revealed the name of the combined Paramount and Warner Bros. Discovery company just days before the massive merger is set to close. The new entity will be called Skydance, a name borrowed from Ellison’s original production company, which he founded in 2006. The announcement came on Friday, October 2, 2026, in Ellison’s first-ever post on the social media platform X.
The $110 billion deal, which will bring together two of Hollywood’s most storied studios, is expected to close on Tuesday, October 6, 2026. The name choice signals that Ellison wants to create a fresh corporate identity while keeping the legendary Paramount and Warner Bros. studio brands intact.
Why the Combined Company Is Called Skydance
Ellison explained his reasoning in a video post that mixed memorable scenes from both studios’ films. The name Skydance comes from his love of aviation, a passion he shares with his father, Larry Ellison, the Oracle co-founder who is backing the deal. The original Skydance production company was named after a flying maneuver called “skydancing,” which Ellison, an accomplished pilot, used as inspiration.
“We chose this name for a few important reasons. 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.”
The decision breaks from a long tradition of media mergers that created combined names like AOL Time Warner, ViacomCBS, and Warner Bros. Discovery. Ellison said he did not want the new corporate identity to weaken or overshadow either studio.
“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.”
The video posted alongside the announcement described the two studios as a “launch pad” and said the new name represents “a new center of gravity, a constellation, a shared vision to go beyond”.
Merger Closing Date and Stock Ticker Change
The deal is set to close on October 6, 2026, following approval from a US federal judge and the settlement of legal challenges brought by a coalition of 12 states. The company will change its legal name to Skydance Corporation on the same day, according to a regulatory filing.
Class B shares will move from the Nasdaq exchange to the New York Stock Exchange, where they will trade under the ticker symbol SKYD. This replaces the current PSKY symbol. Paramount and Warner Bros. will continue to operate as separate studio brands under the Skydance corporate umbrella.
The combined company is expected to release 35 films next year, according to data from Rentrak.
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Ynon Kreiz Named Co-CEO of Skydance
Ynon Kreiz, the outgoing CEO of Mattel, will join the company on October 5 and become co-CEO when the deal closes. David Ellison will remain chairman and CEO. Kreiz will handle day-to-day leadership and the integration of the two companies.
Kreiz’s deal includes a $31.5 million signing bonus as part of a five-year contract, according to a disclosure from Paramount Skydance. Ellison introduced Kreiz to Paramount employees in a memo ahead of the merger, describing his track record at Mattel, where he led the company since 2018.
Legal Hurdles Cleared for the $110 Billion Deal
The merger cleared its final major legal barrier when a federal judge in Oakland, California, approved a settlement between Paramount and 12 state attorneys general on September 30, 2026. The states had sued to block the deal over antitrust concerns.
As part of the settlement, Paramount agreed to several commitments:
- Distributing 30 movies to theaters annually
- Spending an additional $1.5 billion on films over the next five years
- Maintaining domestic film production at agreed levels
The merger also faced a “ticking fee” that took effect on Thursday, October 1. Under this arrangement, Paramount is now paying Warner Bros. shareholders $7 million per day until the deal closes.
What the New Skydance Will Include
The combined company will bring together a vast portfolio of entertainment assets. The Paramount side includes Paramount Pictures, CBS, MTV, Nickelodeon, Comedy Central, and Paramount+. The Warner Bros. Discovery side includes Warner Bros. Pictures, HBO, CNN, DC Studios, Discovery Channel, TNT, and HBO Max.
Reports indicate Ellison has asked current CNN chief Mark Thompson to stay on, while Casey Bloys, the chairman of HBO, is expected to play a key role in the combined streaming operations. Bloys said at a Bloomberg event on Thursday that he believes HBO Max and Paramount+ are more likely to be offered as a bundle rather than merged into a single service.
The new company will debut with $80 billion in debt, and Ellison has pledged to cut $6 billion in costs, which will result in layoffs.
Also Read: Paramount Raises $7.5 Billion More in Debt as Its $111 Billion Warner Bros. Discovery Merger Nears the Finish Line
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