Skydance It Is: David Ellison Reveals New Name as Paramount-Warner Merger Nears Close

David Ellison has told staff the combined company formed by Skydance's acquisition of Warner Bros. Discovery will be called Skydance, four days before the deal formally closes.

Ellison broke the news in a memo to employees, obtained by Variety. The name — the same one Ellison gave his own studio 20 years ago — will serve as the parent identity for existing brands including Warner Bros., Paramount and HBO.

"As we bring Paramount and Warner Bros. together, we wanted to preserve what has made each of these studios iconic," Ellison wrote. "Both have distinct identities, extraordinary legacies and brands that have resonated with audiences for generations."

He continued: "We never wanted a new corporate identity to diminish, alter or overshadow either one. 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."

In the memo, Ellison explained the personal resonance of the name. "I chose the name for my own studio 20 years ago because I wanted something truly personal that also represented limitless possibility," he wrote, citing his love of aerobatic flying — "skydancing" — and the cosmos. The original Skydance logo, he noted, depicted each letter of the name as a planet revolving around the sun.

"That sense of scale, discovery and ambition feels especially fitting for what we are building today," Ellison wrote. He closed the memo: "Welcome to Skydance. I couldn't be more excited about what we're going to build together."

Two executives out at Warner Bros.

Variety confirmed late Thursday night that Warner Bros. Motion Picture Group heads Pamela Abdy and Michael De Luca are leaving the company. The decision shocked them, insiders said — though another power player with knowledge of the duo remarked that if they were surprised, "they're the only ones."

Their fate had been one of the biggest question marks hanging over the entire deal. Timing worked against them: the motion picture group stacked dizzying losses for WBD this year, despite a banner 2025. Another source said Ellison personally spoke to the pair on Friday. Today is thought to be their last day on the Warner Bros. lot in Burbank.

Goldberg and Greenstein ascend

Paramount Pictures leaders Dana Goldberg and Josh Greenstein will be elevated to an expansive creative post, multiple sources tell Variety, overseeing heads of individual film labels across both companies — including New Line stalwart Richard Brener. The company has yet to make anything official.

With this week's exit of Paramount+ streaming head Cindy Holland, Casey Bloys is the presumptive ruler of all streaming at Skydance, according to the report. The industry is speculating on who survives the merger to be named to Ellison's executive leadership team come Monday.

'Barbie 2' back on the table

Dealmaking activity is surging even though Ellison does not get the keys to WBD until next week's formal close. Goldberg and Greenstein have been reaching out to key Warner Bros. talent — including Margot Robbie and her LuckyChap partners — to establish continuity, sources said.

One knowledgeable source said wheels are already turning to lock in a sequel to Greta Gerwig's "Barbie," which Variety previously reported had flatlined over costs. Notably, Ellison has just tapped former Mattel CEO Ynon Kriez as co-CEO of the new combined company.

"There's no way 'Barbie 2' doesn't happen," the source said.

With the merger closing next week, Monday's leadership announcements — and the fate of the "Barbie" sequel — will be the first concrete tests of how Ellison intends to run a studio empire spanning Paramount, Warner Bros. and HBO.