Paramount and Warner Bros Discovery to become Skydance

Paramount and Warner Bros. Discovery will operate as Skydance once their merger closes, Paramount CEO David Ellison announced Friday . Skydance is the name of Ellison’s original film production company.

The roughly $110 billion deal is expected to close October 6. It will combine two major Hollywood studios, Paramount+ and HBO Max, and networks including CBS, CNN, MTV, TBS, Comedy Central, and Food Network. Skydance will also control franchises such as “The Lord of the Rings,” “Game of Thrones,” the DC Universe, and “Yellowstone.”

The merger followed a drawn-out corporate battle. Netflix had agreed to acquire Warner Bros.’ streaming and studio businesses before the broader Paramount deal moved forward. Twelve states challenged the deal, arguing it could reduce competition and harm consumers and workers, but a judge approved a settlement with the state attorneys general this week.