▲ David Ellison, CEO of Paramount Skydance (right)
US Hollywood heavyweights Warner Bros. Discovery and Paramount Skydance are merging into a single entity that will take the name "Skydance."
The Wall Street Journal (WSJ) reported on the 2nd (local time) that David Ellison, CEO of Paramount Skydance, announced via X (formerly Twitter) that the corporate name of the merged company with Warner Bros. Discovery will be Skydance.
The names Paramount and Warner Bros. will remain as brand names under Skydance.
Skydance was originally a small production company established by Ellison about 20 years ago after he debuted as an actor, didn't achieve major success, and transitioned into a film producer.
Ellison began to make a name for himself by producing films such as "True Grit" and drew industry attention when he jumped into the merger with Paramount Global in 2024.
As the son of Oracle founder Larry Ellison and backed by immense financial resources, he beat out formidable competitors at the time, including Warner Bros. Discovery and Japan's Sony Group, to acquire Paramount for 8.0 billion dollars (approx. 11 trillion won).
Following a bidding competition with Netflix, he has now merged with Warner Bros. Discovery as well.
CEO Ellison explained, "Paramount and Warner Bros. are companies that have shaped culture for over a century," adding, "Merging the two companies goes beyond rewriting history; it is about equipping these iconic studios with a more powerful engine."
He also added, "There is an important reason for choosing this name," noting, "Both studios have clear identities, a brilliant heritage, and brand power, and we did not want the new corporate identity to overshadow either of them."
The unveiled video showcased iconic Hollywood films ranging from "The Godfather" to "The Matrix," "Top Gun," "Harry Potter," and "The Lord of the Rings," before panning past the iconic Paramount mountain into the night sky to reveal the Skydance logo.
It concluded with Skydance positioned right in the center, surrounded by the logos of Paramount, Warner, CBS, HBO Max, Paramount+, DC Comics, Nickelodeon, and CNN.
This indicates that Skydance's core businesses going forward will feature these film studios, news channels, online video streaming services (OTT), terrestrial broadcasting, and kids' channels.
(Photo: AP, Yonhap News)
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