Hollywood’s next entertainment giant officially has a name. The company formed by the merger of Paramount and Warner Bros. Discovery will be called simply Skydance, chairman and CEO David Ellison has confirmed.

The name comes from Ellison’s original production company, Skydance Media, and will now represent a much larger business combining two of the most historic studios in Hollywood.

The $111 billion merger is scheduled to close on October 6, 2026.

One company, two legendary studios

The new Skydance will bring together an enormous collection of film, television and streaming brands.

Its portfolio will include Paramount Pictures, Warner Bros., HBO, HBO Max, Paramount+, CBS, CNN, MTV, TBS, Comedy Central and Food Network, among many others.

The combined company will also control some of entertainment’s biggest franchises, including Harry Potter, The Lord of the Rings, Game of Thrones, the DC Universe, Yellowstone, Mission: Impossible, Top Gun and Nickelodeon’s extensive children’s portfolio.

Despite the new corporate identity, Paramount and Warner Bros. will retain their individual studio names.

Ellison said the goal was to create a new parent company without diminishing the identities and histories of either brand.

Why David Ellison chose the Skydance name

According to Ellison, the company wanted a name that could sit above Paramount and Warner Bros. rather than replace them.

He described the new Skydance as a “creative-first home” built around bold storytelling and said the combined scale of the businesses would give both studios more opportunities to expand internationally.

The decision also keeps Ellison’s original company at the centre of the new entertainment group.

Skydance Media was founded in 2010 and grew through film, television, animation and gaming before Ellison moved into a much larger role in Hollywood through Paramount.

Skydance will trade under a new stock symbol

The company also plans to move its Class B common stock from Nasdaq to the New York Stock Exchange when the merger closes.

Trading is expected to begin on October 6 under the new ticker symbol SKYD, replacing the current PSKY symbol.

The company will formally amend its corporate name to Skydance Corporation.

Ellison will serve as chairman and CEO, while former Mattel chief executive Ynon Kreiz will join as co-CEO.

The $111 billion deal reshapes Hollywood

Ellison spent roughly a year pursuing the merger, eventually securing the deal after a competitive process and legal challenges.

The transaction was cleared after a judge approved a settlement in an antitrust lawsuit brought by 12 US states, removing one of the final major obstacles before closing.

The merger also came after Paramount outbid Netflix, which had previously reached an agreement to acquire Warner Bros. Discovery’s studio and streaming businesses.

The result is one of the most significant media combinations in recent Hollywood history.

More than $80 billion in debt

The scale of the new company also comes with major financial pressure.

Skydance is expected to carry more than $80 billion in debt after assuming existing liabilities from Paramount and Warner Bros. Discovery and taking on additional financing connected to the transaction.

Paramount is issuing approximately $42.4 billion in bonds, while also taking out $8.5 billion and €850 million in new loans to help complete the deal and refinance existing obligations.

The new company will be controlled by David Ellison and his father, Oracle co-founder Larry Ellison, alongside RedBird Capital founder Gerry Cardinale.

Middle Eastern investors take a major stake

Sovereign wealth funds from the Middle East are also expected to hold a significant position in the new company.

Funds from Saudi Arabia, Qatar and the UAE have committed approximately $24 billion to the deal.

Together, the three investors are expected to own around 38.5 per cent of the combined Paramount-Warner Bros. business.

That gives the merger a major international investment dimension and places Middle Eastern capital at the centre of one of Hollywood’s largest corporate transformations.

Leadership changes are already beginning

The merger will also bring major changes behind the scenes.

Warner Bros. Motion Picture Group co-heads Michael De Luca and Pamela Abdy are expected to leave after the deal closes.

Paramount executives Dana Goldberg and Josh Greenstein are positioned to oversee both movie studios.

Meanwhile, HBO and HBO Max chief Casey Bloys is expected to take responsibility for the combined streaming business after Paramount+ head Cindy Holland announced her departure.

CNN chief Mark Thompson has also held preliminary discussions about remaining in his role following the merger.

A new era begins for Hollywood

For years, the entertainment industry has been defined by consolidation, streaming competition and pressure on traditional studios to find greater scale.

The creation of Skydance brings two of Hollywood’s oldest and most valuable brands together under a single corporate structure while leaving their identities intact.

Paramount and Warner Bros. will remain visible to audiences.

But above them will now sit a new name — Skydance — controlling a catalogue that stretches from Harry Potter and Game of Thrones to Mission: Impossible, DC and Top Gun.

When the deal closes on October 6, one of the biggest mergers in Hollywood history will officially begin its next chapter.