The $110 billion Paramount–Warner Bros. merger closes today: the new giant is called “Skydance”, shares start trading under the ticker SKYD

The $110 billion deal between Paramount and Warner Bros. Discovery officially closes today, 6 October — and Hollywood has the new name of its giant: “Skydance”. As FlickDirect reports, Skydance Corporation becomes the legal name of the combined company, while the Class B shares are expected to start trading on the New York Stock Exchange under the ticker SKYD; Warner Bros. Discovery shares simultaneously leave the S&P 500 index and the Nasdaq 100.

David Ellison remains chairman and chief executive of the new company, while former Mattel head Ynon Kreiz joins him as co-CEO: Kreiz will handle day-to-day management and integration, and Ellison long-term strategy, creative vision and talent relations. Casey Bloys takes charge of streaming content (HBO Max and Paramount+), George Cheeks of television with the TV studios and more than 50 cable networks, while Dana Goldberg and Josh Greenstein co-lead the film group.

News that will reassure superhero fans: James Gunn and Peter Safran remain at the helm of DC Studios, according to TechCrunch, while Mark Thompson continues at CNN and Bari Weiss at CBS News, with separate reporting structures to preserve the editorial independence of the two newsrooms. Meanwhile, Warner Bros.’ outgoing film chiefs, Michael De Luca and Pamela Abdy, depart as the deal closes.

The merger was legally cleared after the antitrust settlement approved on 30 September by a federal judge, with Paramount paying $31 for each Warner Bros. Discovery share. Although the corporate name becomes Skydance, the Paramount and Warner Bros. brands remain distinct as entertainment identities — and Tom Cruise’s “Digger”, with an opening of just $8 million, went down in history as the last film released by Warner Bros. as an independent studio.