David Ellison, CEO of Paramount, announced this Friday (2) that the entity resulting from the merger between Paramount and Warner Bros. Discovery will be named Skydance. The completion of this operation is scheduled for October 6.
According to Ellison, the selection of this name aims to establish a corporate identity for the unified company while preserving the historical brands of both studios. Both Paramount and Warner Bros. will maintain their existence as autonomous brands within the new structure.
In a social media post, Ellison declared the desire to 'preserve what made each of these studios iconic' by joining Paramount and Warner Bros.
The new corporation will integrate two of Hollywood's largest studios, along with various streaming services and television channels. Its portfolio includes assets such as Paramount+, HBO Max, CBS, CNN, MTV, Nickelodeon, TBS, and Comedy Central.
The new company will have its own identity
The name Skydance was chosen because it derives from Skydance Media, a producer that Ellison founded approximately two decades ago and which partnered with Paramount last year. The intention is to use this brand as the name of the company that will oversee the two groups.
Ellison emphasized that he did not want the new corporate identity to 'diminish, alter, or obscure' Paramount and Warner Bros. The proposal is for Skydance to serve as the general identity of the company, allowing the studios and other brands to remain prominent.
This change occurs shortly before the conclusion of a transaction valued at approximately US$110 billion (equivalent to R$594 billion).
In addition to Ellison, Ynon Kreiz, who previously served as CEO of Mattel, will assume the role of co-CEO of the combined company. While Ellison will lead strategy and creative direction, Kreiz will be responsible for operations and business integration.
After the merger is finalized, the shares of the new company will also undergo a stock exchange change. The securities currently traded on Nasdaq will be transferred to the New York Stock Exchange (NYSE) and will receive the new trading code SKYD.