SAN JOSE, Oct 3 (Bernama-dpa) -- The parent company created by Paramount's takeover of Warner Bros Discovery will be called Skydance, Paramount chief executive David Ellison said on Friday, reported German news agency (dpa).
The name comes from the production company Ellison founded around two decades ago and used last year to take control of Paramount.
Ellison said on X that Paramount and Warner Bros both had distinct identities, legacies and brands, and that the new corporate name was chosen so that neither would be diminished or overshadowed after the merger.
"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," Ellison wrote.
The Warner takeover, worth more than US$110 billion, is expected to be completed next week.
Ellison's Hollywood buying spree has been partly financed with money from his family. His father is tech billionaire Larry Ellison, who made his fortune as the founder of software giant Oracle.
Netflix had originally agreed last year to buy Warner's streaming and studio business. But Paramount continued to pursue a deal and eventually made a higher offer for the whole of Warner Bros Discovery, including television networks such as CNN.
--BERNAMA-dpa
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