Paramount to become Skydance after megamerger with Warner Bros. closes

The studios and digital media juggernaut arising from the $110 billion merger of Paramount ( PSKY ) and Warner Bros. ( WBD ) now has a name: Skydance.

"We chose this name for a few important reasons," Paramount CEO David Ellison posted on X. "First and foremost, as we bring Paramount and Warner Bros. together, we wanted to preserve what has made each of these studios iconic. Both have distinct identities, extraordinary legacies and brands that have resonated with audiences for generations. We never wanted a new corporate identity to diminish, alter or overshadow either one."

Ellison, son of Oracle ( ORCL ) co-founder Larry Ellison, added that the company "wanted a name that would give the combined company an identity of its own."

Skydance is the name of the production company that the younger Ellison founded in 2006 and merged with Paramount in 2025.

On Wednesday, Paramount poached Mattel CEO Ynon Kreiz as co-CEO of the new company alongside David Ellison. Bloomberg reported that the merger is expected to be finalized next week.

The press release announcing Kreiz stated that the combined company "will be guided by four overarching strategic priorities: win in content, become the most technologically capable media company, maximize operational efficiencies, and earn trust — delivering reliable, responsible experiences that strengthen its relationships with creators, audiences, consumers, employees, advertisers and partners."

"We have big goals for Skydance, and we intend to pursue them with passion, imagination and a willingness to take smart risks," Ellison wrote on X. "At the same time, we will honor what makes Paramount and Warner Bros. special — giving both studios the opportunity to grow, tell more great stories and bring those stories to even broader audiences around the world, powered by the scale and capabilities of Skydance."