Paramount and Warner Bros. Discovery officially merged on Tuesday, creating a new company with the name Skydance.
CEO David Ellison took to social media to announce the finalization of the $110 billion merger.
“Today is a new day for @Skydance, and I’m incredibly grateful to everyone who helped get us here. It’s a big day, and we’re just getting started. Let’s go!” Ellison wrote.
In a press release, Ellison went deeper on what Paramount’s acquisition of Warner Bros. means to him.
“Today is a historic day, not just for Skydance but for our entire industry. From the start, our ambition was to bring these two storied studios together and create a stronger competitor, with the talent, resources, and reach to tell great stories in every genre, on every platform, for audiences everywhere. Now that ambition is a reality,” Ellison said.
The chairman and CEO continued, saying, “We’re grateful to everyone who made this possible – the employees, creative talent, and production teams of both companies, who worked tirelessly to get us here and inspire audiences around the world every day, as well as the advisors and partners who guided this transaction to completion. Our focus now turns to the future: building a company that empowers creatives, entertains audiences and rewards shareholders. We couldn’t be more excited to get to work.”
This new combined company now includes two film studios (Warner Bros. and Paramount), two streaming services (HBO Max and Paramount+), the TV channels CBS and HBO, and the news organizations CBS News and CNN, as well as both programming libraries and collections of brands and franchises.
Ellison founded the film studio Skydance in 2006. Skydance acquired Paramount in August 2025.
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