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It’s 102 degrees in Los Angeles, but it’s certainly not a summer Friday on the Paramount lot. The studio is swarming with activity, subplots and preparations for the closing of Skydance’s acquisition of Warner Bros.
Discovery next week. The industry is obsessively speculating on who survives the merger to be named to David Ellison’s executive leadership team come Monday. But first thing’s first — Ellison addressed his troops on the combined company’s new name. It’s Skydance, same as the company Ellison founded 20 years ago, and will be the parent to existing brands like 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. Both have distinct identities, extraordinary legacies and brands that have resonated with audiences for generations,” Ellison wrote to staff in a memo obtained by Variety. “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.” Remain they will, though under various layers of oversight. 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 (like New Line stalwart Richard Brener). With this week’s exit of Paramount+ streaming head Cindy Holland, Casey Bloys is the presumptive ruler of all streaming at Skydance. The company has yet to make anything official. Variety confirmed late Thursday night that Warner Bros. Motion Picture Group heads Pamela Abdy and Michael De Luca are out. 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 has been one of the biggest question marks looming over the entire deal. Timing wasn’t on their side, as the motion picture group stacked dizzying lossesfor WBD this year (despite a banner 2025). Another source added that Ellison personally spoke to the pair on Friday. Today is thought to be their last day on the Warner Bros. lot in Burbank. While Ellison won’t get the keys to WBD until next week’s formal close, dealmaking activity is surging. Goldberg and Greenstein have been reaching out to key talent at Warner Bros. (like Margot Robbie and her LuckyChap partners) to establish continuity. Another knowledgable source said that wheels are already turning to lock in a sequel to Greta Gerwig‘s “Barbie,” which we previously reported had flatlined over costs. Keep in mind, Ellison just tapped former Mattel CEO Ynon Kriez to be the co-CEO at the new combined company.
“There’s no way ‘Barbie 2’ doesn’t happen,” said the source.
Read Ellison’s full Skydance memo below:
Team,
I am excited to share the new name of our combined company, Skydance.
We chose this name for a few important reasons. First and foremost, as we bring Paramount and Warner Bros. together, we wanted to preserve what has made each of these studios iconic. Both have distinct identities, extraordinary legacies and brands that have resonated with audiences for generations. 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.
Of course, Skydance also carries deep meaning for me. I chose the name for my own studio 20 years ago because I wanted something truly personal that also represented limitless possibility. The personal part came from my love of flight: skydancing is another name for aerobatic flying. The possibility came from the cosmos, which to me represents boundless potential and the large-canvas storytelling of cinema. Even our original logo reflected that idea, with each letter of Skydance representing a planet revolving around the sun. From the beginning, the name was meant to capture what great storytelling can do: transport people to places they might never otherwise go and take us beyond the limits of the world we know — and even our own imaginations. That sense of scale, discovery and ambition feels especially fitting for what we are building today.
We have big goals for Skydance, and we intend to pursue them with passion, imagination and a willingness to take smart risks. At the same time, we will honor what makes Paramount and Warner Bros. special — giving both studios the opportunity to grow, tell more great stories and bring those stories to even broader audiences around the world, powered by the scale and capabilities of Skydance.
Welcome to Skydance. I couldn’t be more excited about what we’re going to build together.
David
