David Ellison, CEO of Paramount SkyDance, announced today that following the company’s merger with Warner Bros. Discovery (WBD) next week, the combined entity will be named “Skydance.”
Pursuant to an agreement reached in February this year, Paramount will acquire Warner Bros. for $110 billion (approximately RMB 738.601 billion at current exchange rates), outbidding Netflix in a months-long bidding war; the transaction is expected to be finalized on October 6.
David Ellison previously announced that following the completion of the $110 billion acquisition of Warner Bros. Discovery, former Mattel CEO Ynon Kreiz will join him as co-CEO of the combined company. Paramount stated that Ellison will continue as chairman of the merged company, and senior executives will report to both leaders.
IT Home noted that Kreiz’s appointment is just one of several senior leadership changes at Paramount. Ellison will build a combined management team comprising key talent from Warner Bros. and seasoned executives like Kreiz to navigate this complex merger. Upon completion, the transaction will bring together two major film studios, streaming platforms, television networks, and news organizations under a single company.