The merged Paramount Skydance-Warner Bros. Discovery company will be called simply Skydance, CEO David Ellison announced Friday morning in his debut post on X. Paramount and Warner Bros. will continue to operate as separate brands under the new corporate umbrella, ending the "WarnerMount" and "ParaBros" monikers that had circulated during the deal process.

Ellison, who founded Skydance Media in 2006 and merged it with Paramount Global in 2025 to form Paramount Skydance, explained the naming logic in his post. "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," he wrote. "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 $34.5 billion combination is set to close imminently after a U.S. District Court judge signed off on a settlement between PSKY and the states. The Discovery name loses top billing in the deal, along with longtime chief David Zaslav. The brand, which began life in 1994 as Discovery Communications — itself a refresh of the Cable Educational Network — lives on through its cable network and the Discovery+ streamer. The Discovery logo appeared in the marketing video revealing the Skydance name.

"What once was the peak is now just the beginning," the video concludes.

The name reveal comes with significant leadership shakeups. Outgoing Mattel chief Ynon Kreiz joins as co-CEO, overseeing day-to-day operations and integration, while Ellison handles strategy, creative and technology. Kreiz joined Mattel in 2018 and led a turnaround effort boosted by the 2023 Barbie movie, distributed by Warner Bros. Before Mattel, he ran Fox Kids Europe and the multi-channel YouTube network Maker Studios before both went to Disney. Puck noted Kreiz's "cost-cutting prowess," a quality Ellison will need to deliver the $6 billion in synergies he promised through the merger. One PR executive will not follow Kreiz: Catherine Frymark, who joined Mattel in 2020 after 20 years at WBD and Discovery, told CFX she has no plans to leave.

Warner Bros. film studio executives Mike de Luca and Pam Abdy are expected to exit, while HBO boss Casey Bloys stays to run the combined HBO Max/Paramount+ streaming business. PSKY DTC Chair Cindy Holland announced her exit ahead of the merger earlier this week. The combined platform counts more than 200 million direct-to-consumer subscribers, though Bloys suggested this week the streamers could be bundled rather than merged into one service. With AVOD platforms Pluto TV and Discovery+ included, Skydance streaming would account for 3.6% of total U.S. TV watch time, according to Nielsen's most recent Gauge report — still trailing YouTube, Netflix, Disney services and Prime Video.

The merger also brings CBS Sports and TNT Sports, which hold NFL and college sports rights, together with CNN and CBS News under one roof. As part of the settlement with the states, PSKY agreed to establish a special board to ensure the news brands operate independently, though critics have said the compromise falls short. Some had hoped California AG Rob Bonta, who led the state coalition, would force a divestiture of CNN before closing. Ellison maintained throughout the regulatory process that CNN would remain independent.

The cable portfolios carry heavy settlement conditions. Skydance must negotiate distribution agreements for Paramount's basic cable channels and WBD channels separately for five years, and cannot alter existing schedules for renegotiation except at a distributor's request. The company also agreed not to make terms for one group's agreements contingent on the other's, or use affiliate fee data across groups. Breaking these terms would force divestiture of BET channels, VH1, Comedy Central, Smithsonian, Destination America and Science.