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[BUSINESS] · United States · 28 sources

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Skydance formed through Paramount and Warner Bros. Discovery merger

Paramount and Warner Bros. Discovery have officially completed their merger to form a new media conglomerate named Skydance, led by Chairman and CEO David Ellison. The deal is valued at approximately $111 billion, including the assumption of debt. The new entity brings together major film studios, television networks such as CBS, CNN, MTV, and Nickelodeon, and streaming services including Paramount+ and HBO Max.

To preserve the legacies of the original studios, the Skydance name was chosen so that Paramount and Warner Bros. can maintain their individual identities in future productions. While the corporate structure has unified, the companies have stated that HBO Max and Paramount+ will continue to operate as separate streaming services for the time being.

Skydance has also announced several key leadership appointments, including Jay Askinasi as Chief Revenue Officer of Advertising, David Decker as President of Content Sales, and Ray Hopkins as President of Distribution. The company's board will include Co-CEO Ynon Kreiz and Laurene Powell Jobs, with former Activision Blizzard CEO Bobby Kotick joining as an Independent Director and former UK Prime Minister Tony Blair serving as an advisor.

The merger has drawn significant attention regarding media concentration and editorial independence, particularly concerning news outlets CNN and CBS News, though Ellison has pledged to maintain their editorial autonomy.

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Bobby Kotick · CNN · David Ellison · Paramount · Skydance · Warner Bros. Discovery

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