David Ellison reveals the combined company’s name as reports point to major changes at Warner Bros.’ film division.
David Ellison has announced that the company formed by Paramount’s merger with Warner Bros. Discovery will be named Skydance.
The announcement arrives as the companies prepare to complete the transaction. It also comes amid reports that Warner Bros. film chiefs Michael De Luca and Pamela Abdy will leave the studio when the deal closes.
Paramount and Warner Bros. will retain their individual studio names and brands. Ellison explained that the Skydance name gives the combined company its own identity while keeping the two studios’ established identities intact.
“We never wanted a new corporate identity to diminish, alter or overshadow either one,” Ellison wrote in a social media post Friday.
His announcement emphasized giving both studios the resources to grow and reach wider audiences. The Skydance name will serve as the corporate umbrella for a business spanning movies, television, streaming and news.
The transaction will bring together two of Hollywood’s remaining legacy studios, along with assets including HBO, HBO Max, Paramount+, CBS and CNN. Their combined entertainment portfolio includes properties such as DC, Harry Potter and Top Gun.
Warner Bros. Film Chiefs Reportedly Set to Exit
De Luca and Abdy are expected to depart Warner Bros. when the merger closes, according to multiple reports. Their anticipated exits would mark a significant change for the studio’s film division as Ellison builds the combined company’s management team.
Reports also point to Paramount Pictures co-chairs Dana Goldberg and Josh Greenstein potentially overseeing both movie studios.
The departure reports have not received official confirmation. TheWrap reported that a person close to De Luca and Abdy said neither executive had been informed of a decision by Paramount leadership. Paramount declined to comment to the outlet.
De Luca and Abdy’s tenure has included A Minecraft Movie and One Battle After Another. Warner Bros.’ upcoming slate includes The Batman Part II, The Lord of the Rings: The Hunt for Gollum and Gremlins 3.
The proposed management changes would place the two studios’ film operations under shared oversight, even as Paramount and Warner Bros. maintain their separate brands. The final structure remains subject to an official announcement.
James Gunn and Peter Safran Could Remain at DC Studios
DC Studios leaders James Gunn and Peter Safran will reportedly be asked to stay on following the merger, at least initially, according to Puck’s Matthew Belloni. Paramount has not confirmed the report.
Ynon Kreiz Joins David Ellison as Co-CEO
Paramount has separately confirmed that Mattel chief Ynon Kreiz will become co-CEO of the combined company when the transaction closes. Kreiz will start at Paramount on Oct. 5.
Ellison will remain chairman and CEO, while Kreiz will serve as co-CEO and join the board of directors.
The company has outlined different responsibilities for the two executives. Ellison will focus on long-term strategy, creative direction, talent relationships, technology, and capital allocation. Kreiz will oversee daily management and the integration of the combined businesses.
Kreiz has led Mattel since 2018. His appointment adds another executive to the leadership team preparing to bring Paramount and Warner Bros. Discovery together.
Merger Includes Theatrical Release Requirements
A federal judge approved Paramount’s settlement with 12 states that challenged the acquisition, clearing the way for the companies to complete the deal.
The settlement includes specific commitments for theatrical distribution. The combined company must release 30 films annually during the first two years, followed by 32 films annually during the next three years. At least half of those releases must be produced or jointly produced by the company.
Paramount also committed to an additional $1.5 billion in U.S. film production spending over five years. A separate $47.5 million workforce fund will support training and career development for workers displaced by the merger.
The agreement also calls for a News Editorial Independence Board for CNN and CBS. The commitments address film output, domestic production, workers, and news oversight as the two companies move toward shared ownership.
Paramount and Warner Bros. Discovery expect to complete the merger on Oct. 6, 2026.
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Sean Tajipour
Sean Tajipour is the Founder and Editor of Nerdtropolis and the host of the Moviegoers Society and Reel Insights Podcast. He is also a member of the Critics Choice Association. You can follow on Twitter and Instagram @Seantaj.
