Paramount and Warner will merge as Skydance

The merger between iconic film studios Paramount Pictures and Warner Bros is moving forward with the combined company to be called Skydance Corporation.

Netflix was set to acquire Warner and HBO, but at the last minute Paramount won the entire deal.

The acquisition has sent shockwaves through Hollywood, where there are concerns about the future, particularly for cinemas, while there are naturally also plenty of questions surrounding the streaming strategy.

- "Paramount and Warner Bros. shaped over a century of culture. By combining them, we aren't rewriting history – we're equipping these iconic studios with a more powerful engine. Together, we are Skydance: a creative-first home for bold, quality storytelling," writes David Ellison, chairman of Skydance Corp.

- "We chose this name for a few important reasons. First and foremost, as we bring Paramount and Warner Bros. together, we wanted to preserve what has made each of these studios iconic. Both have distinct identities, extraordinary legacies and brands that have resonated with audiences for generations. We never wanted a new corporate identity to diminish, alter or overshadow either one. Instead, we wanted a name that would give the combined company an identity of its own while allowing Paramount and Warner Bros. – and all our extraordinary brands – to remain in the spotlight."


The film studios remain
Although the new company will be called Skydance, Paramount and Warner Bros will remain individual film studio brands, it was confirmed, with both continuing to produce movies and series from their respective studios on Melrose Avenue and in Burbank.

Skydance has pledged over 30 theatrical releases per year – a significant increase from today.

The merger has been a long time in the making and has faced scrutiny from competition authorities. Multiple settlements have placed certain restrictions on Skydance in exchange for allowing the merger to proceed. It is now no longer certain that HBO Max and Paramount+/SkyShowtime will be combined. Instead, the two streaming services are expected to remain separate, at least initially, but be offered as a bundle.

The acquisition price was $111 billion – significantly more than what Netflix offered. The new company will take on $80 billion in debt. The deal is formally scheduled to close on October 6.

The Skydance name comes from the Hollywood production company founded by David Ellison in 2006, which later acquired Paramount.


Paramount, Warner, HBO, DC Studios, etc.
In addition to the Paramount and Warner Bros film studios, Skydance will control HBO Max, DC Studios, Paramount+, Nickelodeon, Comedy Central, Cartoon Network, New Line, TNT, CBS, CNN, MTV, Showtime (and partially SkyShowtime), Adult Swim and TCM.

- "We have big goals for Skydance, and we intend to pursue them with passion, imagination and a willingness to take smart risks. At the same time, we will honor what makes Paramount and Warner Bros. special – giving both studios the opportunity to grow, tell more great stories and bring those stories to even broader audiences around the world, powered by the scale and capabilities of Skydance."