David Ellison has shared the name of the new company that will combine Paramount and Warner Bros
Paramount Skydance and Warner Bros. Discovery will be called “Skydance” after the two companies officially merge, said Paramount’s CEO, David Ellison, on Friday. This change is part of the plans for the new big media company. Which is being formed as the merger, which has been controversial, is set to finish next week.
Ellison shared the new name on social media on Friday, explaining that the company wanted a name that would give the new business its own identity. While still letting Paramount and Warner Bros.stay important parts of the picture.
The news comes just before the company finishes the $110 billion merger on Tuesday, closing a tough process that faced a lot of disagreement.
The merger was able to proceed this week after a federal judge approved the agreement between Paramount and the states that were against the deal. Even though many people criticized the pact for giving too much advantage to Paramount and not properly dealing with antitrust issues. This related to the large amount of control the new company would have over the entertainment industry.
7 million dollars. That’s the amount Paramount is now paying Warner Bros. shareholders each day until the deal closes, after a delay penalty clause went into effect Thursday that imposes a financial cost on Paramount for delaying the deal.
