Updated: David Ellison making moves. Abdy and DeLuca are out. Gunn stays

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The combined Paramount-WBD will be called Skydance, David Ellison announces:

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What once was the peak, is now just the beginning.

Paramount and Warner Bros. shaped over a century of culture. By combining them, we aren't rewriting history — we're equipping these iconic studios with a more powerful engine. Together, we are Skydance: a creative-first home for bold, quality storytelling.

We chose this name for a few important reasons. First and foremost, as we bring Paramount and Warner Bros. together, we wanted to preserve what has 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, alter or overshadow either one. Instead, 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.

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. special — giving both studios the opportunity to grow, tell more great stories and bring those stories to even broader audiences around the world, powered by the scale and capabilities of Skydance.

I couldn’t be more excited about what we’re going to build together.

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HBO chief Casey Bloys is poised to take the reins of all of Paramount and Warner Bros. streaming operations once the two companies merge. On Tuesday, Cindy Holland announced she was stepping down from her role running Paramount+ and other direct to consumer streamers under the Paramount umbrella.

The shuffle comes as Paramount Skydance is days away from closing its hard-won $110 billion acquisition of Warner Bros. Discovery.

Holland confirmed her departure in a memo to staff sent Tuesday afternoon, acknowledging that Paramount Skydance CEO David Ellison has made the decision regarding streaming leadership, although she did not reference Bloys by name.

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Over the past few weeks, speculation emerged that Bloys was likely to come over post merger in the top role overseeing all streaming operations. Bloys is a near 25-year veteran of HBO who has steered TV’s most prestigious brand through choppy waters and three massive corporate takeovers in eight years. There’s also speculation that JB Perrette, who now heads streaming business operations and gaming for WBD, will join Bloys in steering HBO, HBO Max and Paramount+.

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