And he’s boldly — or arrogantly, if you prefer — decided to name the entertainment giant that he’s bolted together Skydance Corp., nodding to the original name of his film production firm that has swallowed up two Hollywood studios over the past 14 months. Defying skeptics and beating back opponents, Ellison has harpooned his white whale in buying Warner Bros. Now he has to prove that the $111 billion mega-merger can become a profitable entertainment powerhouse, and not just a vessel that will get sucked under by a massive whirlpool of debt.
As the closing of the deal — set to occur Tuesday, Oct. 6 — became a certainty, entertainment industry insiders started to come to grips with the reality that the enlarged company is a new and unpredictable force in town. The deal has been polarizing for the creative community, with many boldface names going public in their opposition to the merger. The new leadership team that Skydance is assembling under the direction of Ellison and Ynon Kreiz, just recruited from Mattel to serve as co-CEO, has to navigate that dynamic.
And they must do it while walking a tightrope on Wall Street to pay down debt and grow profits across film, linear TV and streaming. It’s not necessarily an easy task.” Skydance Shuffle: David Ellison Addresses Troops About New Name, Says Adieu to Mike and Pam and Sets Table for ‘Barbie 2’New Name of Paramount-Warner Bros. Unveiled: Skydance Skydance Says It’s Committed to L.A., but Threat to Leave Has Proved Potent George Cheeks May Be Poised for Expanded TV Role at Skydance Post Paramount-Warner Bros.
MergerEuropean Entertainment Leaders Mostly Optimistic About David Ellison’s Takeover of Warner Bros.: ‘I Believe in His Commitment to Cinema’ It’s all been a whirlwind. On the morning of Sept. 30, Ellison still didn’t know if it was a done deal. He had spent more than a year in his relentless pursuit of acquiring Warner Bros. and HBO.
The WBD board rejected his takeover offers eight times. David Zaslav, Warner Bros. Discovery’s boss, ghosted Ellison in December 2025 after Netflix clinched a deal for WB’s streaming and studios business.
But Ellison didn’t surrender; he finally outbid Netflix in February, with a $31/share offer that was nearly 2.5 times the stock price before the M&A frenzy kicked off. It was an offer WBD couldn’t refuse. Ellison and his legal team, headed by former DOJ official Makan Delrahim, predicted the proposed Paramount-WB combo would easily clear regulatory approvals.
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