Company formed after Paramount Skydance and Warner Bros. Discovery merger to be called Skydance — The Verge

In the United States, Paramount Skydance will be called Skydance after completing its $110 billion merger with Warner Bros. Discovery. Paramount Skydance CEO David Ellison announced this, The Verge reports.

The company’s new name

According to Ellison, the Skydance name is intended to give the combined company a distinct identity without overshadowing the Paramount, Warner Bros. and other group brands. He noted that Paramount and Warner Bros. studios have their own identities, legacies and brands that have resonated with audiences for generations.

Court settlement

Earlier, a judge approved Paramount’s agreement with California and 11 other states that had filed a lawsuit over the planned acquisition. This removed the last significant obstacle to closing the deal.

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Under the agreement, Paramount committed to releasing a minimum number of films in theaters over the next five years. In the first and second years, the company must release at least 30 such films annually.

Management after the merger

Before the deal closes, Paramount also appointed former Mattel chairman and CEO Ynon Kreiz as co-CEO of the combined company. The deal is expected to be completed on October 6.