Paramount and Warner Bros. Discovery Now Operate as Skydance Corp. Under David Ellison

Paramount and Warner Bros. Discovery have finished combining and now operate as one entity under the name Skydance Corp., according to Variety. David Ellison holds the titles of chairman and chief executive of the combined company. Variety puts the value of the transaction at $111 billion. In remarks reported by the publication, Ellison called the day historic for Skydance and for others beyond it. With the deal closed, two names that have long appeared on film and television credits now report to the same chief executive. In Beverly Hills, many residents work in the film and television business, so a change in who runs these studios is news close to home.

With reporting from Variety Film.