David Ellison, the founder of Skydance Media, has officially announced that the newly formed company resulting from the merger of Paramount and Warner Bros. Discovery will be named Skydance. The official closing of the merger is expected by October 6. This decision ends months of speculation, during which the combined entity was informally called "ParaBros" due to the lack of an official name. Ellison made the announcement in a post on X, choosing to revive the name of his original company, which he used as a vehicle to acquire Paramount last year. According to The Hollywood Reporter, while Paramount and Warner Bros. will no longer be standalone entities, they will remain as brands within the new group. In the entertainment industry, the name of a parent company typically has little impact on the general public. Instead, the bigger challenge lies in the consolidation of streaming platforms. Skydance will serve as the group’s primary brand, while Paramount and Warner Bros. will continue to be used for prestige content. Ellison explained that he wanted a name that gives the new group its own identity while allowing existing brands to remain prominent. The new name replaces the previous corporate name, Paramount Skydance Corporation, and the name "Discovery" will no longer be used. The merged entity will bring together major franchises such as Harry Potter, Game of Thrones, Yellowstone, Mission: Impossible, Top Gun, and Nickelodeon, along with the DC universe and HBO series. The new group is expected to release 35 films next year, the highest number since at least the early 2000s, and will immediately be among the largest players in the industry, alongside Disney and Netflix. Ellison accompanied his announcement with a video showcasing the most popular franchises under the new umbrella. The merger, valued at approximately $111 billion, is expected to be finalized next week. Ellison will serve as chairman and CEO, with Ynon Kreiz, former CEO of Mattel, as co-CEO overseeing daily operations. The rest of the executive team has not yet been finalized. Regarding the streaming platforms, Ellison has appointed Casey Bloys, who previously led HBO, to oversee both HBO Max and Paramount+. Cindy Holland, who had led Paramount’s streaming division, has left her position. Ellison has announced plans to merge the two platforms into a single service, which would have over 200 million direct subscribers, compared to about 325 million for Netflix. He emphasized that HBO will retain its editorial independence. However, the final visual in the video accompanying the announcement displayed the logos of HBO Max, Paramount+, CBS, DC Comics, Nickelodeon, and CNN together, without specifying a new brand name for the merged service. For now, no unified app or changes in pricing have been announced for France, and current subscribers to HBO Max and Paramount+ can continue using their existing services. Details about the merger of the platforms are expected to be revealed in the coming months.