Paramount's acquisition of Warner Bros. is officially done, and the combined company goes by a new name: Skydance.
The merger, closed today, folds Warner Bros. Discovery's assets into Paramount, pairing streaming services Paramount+ and HBO Max under one roof. It also combines television networks: CBS, CNN, MTV, TBS, Comedy Central, and Food Network now sit inside the same corporate structure. The result carries the Skydance name because Skydance Media, the production company behind the 2025 reverse merger that first took over Paramount, retained naming rights when it absorbed Warner Bros. That earlier deal is why this new, larger entity isn't called Paramount-Warner or Warner-Paramount - it's Skydance all the way up.
This creates one of the largest media conglomerates in the US, with two major streaming platforms and a stack of cable networks under single ownership. For consumers, the immediate questions are whether Paramount+ and HBO Max stay separate apps or get merged, and what happens to overlapping content libraries and licensing deals.
Expect the usual post-merger ritual: cost-cutting, content shuffling, and a rebrand nobody asked for.