It’s 102 degrees in Los Angeles, but it’s definitely not a summer Friday on the Paramount lot. The studio is abuzz with activity, subplots and preparations for the closing of the Warner Bros. acquisition. Discovery by Skydance next week.
The industry is obsessively speculating about who will survive the merger and who will be named to David Ellison’s management team next Monday. But first, Ellison addressed his troops about the new name of the combined company. This is Skydance, the same company that Ellison founded 20 years ago, and which will be the parent company of existing brands like Warner Bros., Paramount and HBO.
“In bringing Paramount and Warner Bros. together, we wanted to preserve what 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 its own identity while allowing Paramount and Warner Bros. – and all of our extraordinary brands – to remain in the spotlight.”
They will remain so, although under different levels of supervision. Paramount Pictures executives Dana Goldberg and Josh Greenstein will be elevated to an expanded creative role, according to multiple sources. Varietyoverseeing individual film label heads at both companies (like New Line stalwart Richard Brener). With the departure this week of Paramount+ streaming head Cindy Holland, Casey Bloys is the presumed head of all streaming at Skydance. The company has not made anything official yet.
Variety confirmed Thursday evening that executives at Warner Bros. Motion Picture Group, Pamela Abdy and Michael De Luca, were absent. The decision shocked them, insiders said, although another power player with knowledge of the duo remarked that while they were surprised, “they’re the only ones.” Their fate is one of the biggest question marks hanging over the entire deal. Timing was not on their side, as the film group racked up staggering losses for WBD this year (despite a 2025 banner). Another source added that Ellison personally spoke to both men on Friday. Today is believed to be their last day on the Warner Bros. lot. in Burbank.
Although Ellison won’t get the keys to the WBD until next week’s official close, trading activity is booming. Goldberg and Greenstein reached out to key talent at Warner Bros. (like Margot Robbie and her LuckyChap partners) to establish continuity. Another informed source said the wheels were already turning to lock in a sequel to Greta Gerwig’s “Barbie,” whose costs we previously reported had stagnated. Keep in mind that Ellison just recruited former Mattel CEO Ynon Kriez to become co-CEO of the new combined company.
“There’s no way ‘Barbie 2’ won’t happen,” the source said.
Read Ellison’s full Skydance memo below:
Team,
I’m excited to share the new name of our combined company, Skydance.
We chose this name for several important reasons. Above all, by bringing Paramount and Warner Bros. together, we wanted to preserve what 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, change or eclipse either. Instead, we wanted a name that would give the combined company its own identity while still allowing Paramount and Warner Bros. – and for all our extraordinary brands – to stay in the spotlight.
Of course, Skydance also has 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 possibilities. The personal part comes from my love of flying: skydancing is another name for acrobatic flying. The possibility came from the cosmos, which for me represents limitless potential and storytelling on the grand canvas of cinema. Even our original logo reflected this idea, with each letter of Skydance representing a planet revolving around the sun. From the beginning, the name was meant to describe what great storytelling can do: transport people to places they could never go otherwise and take us beyond the limits of the world we know – and even our own imaginations. This sense of scale, discovery and ambition seems particularly suited to 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. specials: giving both studios the opportunity to grow, tell more interesting stories and deliver those stories to an even wider audience around the world, thanks to the scale and capabilities of Skydance.
Welcome to Skydance. I couldn’t be more excited about what we’re going to build together.
David
Gn entert
