David Ellison Names Combined Paramount-Warner Bros. Discovery Entity Skydance

Science20 sourcesOct 3, 2026

BalancedFactual rigor 54/100

The Story

David Ellison announced on Friday, October 2, 2026, that the combined entity resulting from the merger of Paramount Skydance and Warner Bros.

Discovery will be named Skydance. The merger is expected to close on Tuesday, October 6, at which point the new company will unite film studios Paramount and Warner Bros., the CBS broadcast network, pay-TV networks including CNN, TNT, MTV, and BET, and streaming services Paramount+ and HBO Max. Ellison also appointed Ynon Kreiz, the outgoing CEO of Mattel, as co-CEO of the new Skydance, effective upon the merger's closing.

Kreiz, a 30-year media veteran known for ushering "Barbie" to the big screen in 2023, will join Ellison in leading the new entity. Ellison stated the name change aims to maintain the separate identities of the Paramount and Warner Bros. Studios rather than overshadow them with a new corporate identity. The company plans to change its legal name to Skydance Corp. on October 6, and its Class B shares are expected to move from Nasdaq to the New York Stock Exchange, trading under the ticker "SKYD."

The $110 billion merger, valued at $81 billion by some sources, received court approval on Wednesday, ending a months-long holdup. Ellison's Skydance previously acquired Paramount in August 2025 for approximately $8 billion. Some social media users criticized the name choice as ego-driven and vain, suggesting it reminds everyone that Ellison's company won out. The appointment of Kreiz addresses governance questions surrounding Ellison's aggressive pursuit of legacy media assets.

What they agree on

David Ellison announced that the combined Paramount Skydance and Warner Bros. Discovery entity will be named Skydance.
The merger is expected to close on Tuesday, October 6, 2026.
Ynon Kreiz, outgoing CEO of Mattel, will serve as co-CEO of the new Skydance alongside David Ellison.
The combined company will include major film studios, broadcast networks, pay-TV networks, and streaming services.
The merger, valued at approximately $110 billion, received court approval on Wednesday, October 1, 2026.

Where they split

Some sources, like The Wall Street Journal, value the deal at $81 billion, while others, such as CNBC and Business Insider, state it is worth roughly $110 billion on an enterprise basis.
Mediaite and The Daily Beast highlight social media reactions and criticism of the new name as "ego-driven" or "vain," while other outlets focus more on the factual announcement and business implications.
Jewish Telegraphic Agency includes details about David Ellison's pro-Israel beliefs and connections, and actor Mark Ruffalo's accusations of antisemitism regarding the merger, which are not present in other articles.
CNBC provides more detail on Ynon Kreiz's background, noting his reputation as a "turnaround man" and questions about how successfully he and Ellison will share duties, while other sources offer a more concise introduction.