Paramount and Warner Bros. Discovery Merger to Create Skydance, New Leadership Structure Announced

Paramount and Warner Bros. Discovery are set to merge, forming a new entity named Skydance, with the deal expected to close on October 6, 2026. David Ellison will lead as chairman and CEO, with Ynon Kreiz joining as co-CEO to oversee day-to-day operations and integration. George Cheeks is slated to run all three television studios (Warner Bros. Television, CBS Studios, and Paramount Television Studios) under the new combined company, while James Gunn and Peter Safran will continue to lead DC Studios. This $110 billion merger will combine major Hollywood studios, streaming platforms like Paramount+ and HBO Max, and various television networks, impacting a significant portion of the entertainment industry.