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Paramount SkyDance and Warner Bros. Discovery to Name Combined Entity 'Skydance' After Merger
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Paramount SkyDance CEO David Ellison announced that after the company completes its merger with Warner Bros. Discovery (WBD) next week, the combined entity will be named 'Skydance'. The approximately $110 billion merger is expected to close on October 6. This marks a significant milestone for a company that has completed two major acquisitions in the past 18 months. Former Mattel CEO Ynon Kreiz will serve as co-CEO, while Ellison will continue as chairman. Settlement conditions require the merged entity to release at least 30 films annually in the U.S. and establish independent editorial boards for CBS News and CNN.
Source report
David Ellison, CEO of Paramount SkyDance, has announced that the combined entity resulting from the company's merger with Warner Bros. Discovery (WBD) will be named "Skydance." The announcement marks a significant milestone for a company that has completed two major acquisitions within the past 18 months.
Key Details
- Merger value: Approximately $110 billion
- Expected closing date: October 6
- Post-merger leadership:
- Ion Kreiz (former Mattel CEO) will serve as Co-CEO
- David Ellison will continue as Chairman
Regulatory Conditions
As part of the settlement terms, the merged entity is required to:
- Release at least 30 films annually in U.S. theaters
- Establish independent editorial boards for CBS News and CNN
Source
domesticNeutral / independent
Part of this Story
David Ellison names merged Paramount-Warner Bros. Discovery as Skydance