● Covered by 2 sources · 2 reportsHigh impact2 neutral
Paramount-Warner Bros. Discovery Merger to Form Skydance, Combine Streaming Services
Key points
- Paramount Skydance acquires Warner Bros. Discovery for $110 billion.
- New combined company will be named Skydance.
- HBO Max and Paramount+ will merge into one streaming service.
- Combined streaming service could have 200 million subscribers.
- Ynon Kreiz appointed co-CEO of the new company.
New Company Name and Structure
Paramount Skydance is set to finalize its $110 billion acquisition of Warner Bros. Discovery next week. The combined entity will operate under the name Skydance. David Ellison, CEO of Paramount Skydance, announced the new name, stating the goal is to provide a distinct corporate identity while allowing the individual brands of Paramount and Warner Bros. to maintain their prominence.
Streaming Service Consolidation
Following the merger, HBO Max and Paramount+ will be combined into a single streaming service. This consolidation is expected to create a service with approximately 200 million subscribers. Ellison previously indicated plans for this combination if regulatory approvals were secured.
Regulatory Approval and Leadership
A judge recently approved a settlement between Paramount and California, along with 11 other states, clearing a significant hurdle for the deal. As part of the settlement, Paramount must release a minimum of 30 theatrical films annually for the first two years, and then a minimum number over five years. Ahead of the close, Ynon Kreiz, former chairman and CEO of Mattel, has been appointed as co-CEO of the new company.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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How outlets covered it
Paramount Skydance will acquire Warner Bros. Discovery next week, forming a new company named Skydance. This merger will lead to the combination of HBO Max and Paramount+ into a single streaming service, potentially reaching 200 million subscribers.
The combined entity of Paramount and Warner Bros. Discovery will be named Skydance following their $110 billion merger. This naming decision aims to provide a distinct corporate identity while allowing the individual studio brands to retain prominence.