Paramount and Warner Bros. Discovery are about to become part of one of the world’s biggest entertainment companies, with David Ellison confirming the new parent company will simply be called Skydance.
The announcement comes ahead of the expected completion of Paramount’s acquisition of WBD on Tuesday, October 6 US time — Wednesday, October 7 in Australia.
The transaction, valued at approximately US$111 billion including debt, will bring together two of Hollywood’s most recognisable studios and a huge collection of film, television and streaming brands.
Ellison, who will lead the combined company alongside incoming co-CEO Ynon Kreiz, revealed the name overnight in a statement posted to X.
“What once was the peak, is now just the beginning.”
Ellison said the decision was intended to give the enlarged company its own corporate identity while retaining the individual identities of Paramount and Warner Bros.
“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 new Skydance name comes from Ellison’s production company, which merged with Paramount in 2025 to create Paramount Skydance Corporation.
The combined company will adopt the Skydance Corporation name when the WBD transaction closes, with its Class B shares expected to trade under the SKYD ticker on the New York Stock Exchange.
A new Hollywood giant
The acquisition will bring together Paramount Pictures, Warner Bros. Pictures, Paramount Television, Warner Bros. Television, CBS, CBS Sports, CBS News, CNN, HBO, HBO Max, TNT, TBS, Discovery, HGTV, Food Network, Nickelodeon, Cartoon Network, MTV, BET, Comedy Central, Showtime, Paramount+, Pluto TV and Skydance’s own production businesses.
The combined portfolio will reach audiences in more than 200 countries and territories, according to Paramount.
Paramount has previously highlighted the scale of the combined content library, saying it would bring franchises including Harry Potter, DC, Mission: Impossible, Top Gun and The Godfather under the same corporate roof. Ellison has also said combining Paramount+ and HBO Max would create more than 200 million gross streaming subscribers before accounting for subscriber overlap.
The streaming businesses are likely to be one of the most significant areas of integration, although exactly how the services and brands will ultimately be presented to consumers remains to be seen.
What does it mean for Australia?
For Australian audiences, the deal will bring together two companies with significant local operations across free-to-air television, streaming, production and pay TV.
Paramount owns Network 10, including 10, 10 Comedy, 10 Drama and its free streaming platform, as well as Paramount+, while WBD operates HBO Max and a portfolio of international entertainment brands in Australia.
WBD also has a substantial local production presence through Warner Bros. International Television Production Australia, which has produced programs including The Twelve, Selling Houses Australia, The Golden Bachelor and more.
The combined company will also inherit WBD’s suite of linear entertainment, factual and lifestyle channels distributed through Australian platforms including Foxtel and Fetch, alongside Paramount’s existing channel and distribution arrangements.
For viewers, the biggest question will be what happens to the two companies’ streaming businesses. Paramount+ and HBO Max will now sit under the same corporate roof, although there has been no announcement that they will immediately become a single Australian service.
What happens to 10?
One of the more immediate Australian questions will be whether 10 remains part of Skydance long term.
The network came into Paramount through the company’s complicated corporate history — CBS acquired Ten Network Holdings in 2017, before CBS and Viacom merged to form ViacomCBS, which was subsequently renamed Paramount Global and later became Paramount Skydance following its merger with Skydance.
There has already been speculation that 10 could ultimately be sold or otherwise separated from the wider Paramount business. That speculation comes against a difficult financial backdrop: Network 10 recorded an $84 million loss for 2025, following losses of $162 million in 2024 and $322 million in 2023. Paramount had also previously written down the value of its Australian broadcast licences.
For now, however, 10 remains part of Paramount and therefore will become part of Skydance when the WBD transaction closes.
The next step
The transaction has now cleared regulatory hurdles in nearly 70 jurisdictions, including Australia, and a US federal judge has approved a settlement that cleared the final major legal obstacle to completion. Paramount and WBD have formally targeted October 6 for the closing of the transaction.
Ellison will remain chairman and CEO of the combined company, with former Mattel CEO Ynon Kreiz joining as co-CEO and taking responsibility for day-to-day operations and integration. Ellison will focus on long-term strategy, creative direction, technology and capital allocation.
Ellison says the ambition is now to use the scale of the combined business while allowing its individual entertainment brands to remain recognisable.
“Together, we are Skydance: a creative-first home for bold, quality storytelling.”
The biggest question now is what that vision looks like once the deal officially closes — and how quickly audiences, employees and partners begin to see the effects.
Take a look at the new video showcasing the films, television shows, franchises and brands that will come together under Skydance.
