Paramount Skydance CEO David Ellison announced Friday that the merged Paramount and Warner Bros. Discovery will operate under the name Skydance when the $110 billion deal closes Tuesday.

The combined company will trade under the ticker symbol SKYD. Ellison and Mattel CEO Ynon Kreiz will step in as co-CEOs immediately after the transaction finalizes.

The leadership transition follows an aggressive acquisition strategy. Skydance bought Paramount in August 2025, and Ellison quickly targeted Warner Bros. Discovery, sparking a competitive bidding process that concluded with the February agreement.

Regulatory hurdles cleared this week after a lawsuit from state attorneys general was settled. Ellison stressed that the rebranding leaves the historic studios intact. "Paramount and Warner Bros. shaped over a century of culture," he said. "We never wanted a new corporate identity to diminish, alter or overshadow either one," he added. Both brands will keep their own creative teams and release schedules.

The merged studio group will hit theaters with 35 films next year, according to Rentrak data. The consolidation positions the new Skydance to compete directly in the global streaming and theatrical markets.