Paramount and Warner Bros merger will operate under the Skydance name

Two of Hollywood's biggest studios are about to share one roof, and the new home has a name. David Ellison, chairman and CEO of Paramount Skydance, has announced that the company created by combining Paramount with Warner Bros Discovery will be called Skydance. The name comes from Skydance Media, the production company Ellison started.

Ellison explained the choice in a post on X. He said the aim was to protect what made each studio iconic, since both carry their own long history and brands that audiences have loved for generations. "We never wanted a new corporate identity to diminish, alter or overshadow either one," he wrote. The idea, he added, was to give the merged company its own identity while keeping Paramount and Warner Bros front and centre.

The deal cleared its final legal hurdle this week. On Wednesday, a US judge entered an order allowing Paramount Skydance to close its 110 billion dollar purchase of Warner Bros Discovery, ending a hold-up that lasted months. The order approved a September 21 settlement with a group of 12 states, led by California, that had sued to stop the merger over fears it would push up film and TV prices.

October 6 is the key date. The company's legal name is expected to change to Skydance Corporation that day, and reports say its Class B shares will move from Nasdaq to the New York Stock Exchange under the ticker SKYD. Former Mattel chief Ynon Kreiz comes in as co-CEO to run daily operations and the integration, leaving Ellison to focus on creative direction and strategy. The pair reportedly face a target of 6 billion dollars in cost savings while handling about 80 billion dollars in combined debt.

The combined group will reportedly hold HBO Max, Paramount+, CBS, CNN and MTV, along with franchises such as Harry Potter, Lord of the Rings, Game of Thrones, the DC Universe, Mission: Impossible and Top Gun.

Not everyone likes the name. Emarketer senior analyst Ross Benes reportedly called it "ego-driven", saying it signals that Hollywood's most famous brands now answer to Ellison.