Paramount and Warner Bros. Discovery are set to merge and adopt the name Skydance following the closing of a roughly $110 billion deal anticipated on October 6, 2026. This consolidated entity will bring together the operations of major studios and streaming platforms, including Paramount+, HBO Max, and networks such as CBS, CNN, MTV, TBS, Comedy Central, and Food Network. Skydance will also oversee significant franchises like “The Lord of the Rings,” “Game of Thrones,” the DC Universe, and “Yellowstone.”

The decision to rebrand as Skydance was announced by Paramount CEO David Ellison, whose original film production company carries the name. Ellison emphasized that while the new corporate name provides a fresh identity, it does not diminish the Paramount and Warner Bros. brands, which will remain central to the company's identity and continue to be highlighted to audiences. The merger aims to harness the strengths of both studios to create a more powerful creative and commercial engine.

This merger comes after extensive negotiations and legal challenges, including an initially proposed acquisition of Warner Bros.’ streaming and studio businesses by Netflix. Twelve states had filed lawsuits to block the deal, citing concerns over competition and consumer impact. However, a judge recently approved a settlement reached with the state attorneys general, removing a major obstacle for the merger’s completion.

By uniting two of Hollywood’s most iconic studios and their extensive assets, Skydance is positioned to be a creative-first entertainment company with broad reach across streaming, television, and film. The move reflects a significant restructuring in the entertainment industry, leveraging beloved content libraries and networks to compete more effectively in the evolving media landscape.