Business 4 min read By Morgan Griffin
Skydance to Keep HBO Max and Paramount+ as Separate Streaming Brands After Merger
The newly named Skydance will bundle HBO Max and Paramount+ rather than merge them into a single platform, according to a presentation by CEO David Ellison. The combined Paramount-Warner Bros. Discovery company is expected to close its deal next week.
The newly formed entertainment conglomerate created by the merger of Paramount and Warner Bros. Discovery will keep HBO Max and Paramount+ as separate streaming brands, according to a presentation from Paramount CEO David Ellison. The decision signals that the combined company, which will be called Skydance, intends to bundle the two flagship services rather than fold them into one platform.
Ellison announced the company name in a video message to employees earlier today. The presentation concluded with a slide indicating that both streamers would remain distinct consumer-facing products. The move suggests Skydance sees value in preserving the identities of two services that each carry large subscriber bases and distinct content libraries.
The merger is expected to close next week, officially combining Paramount and Warner Bros. Discovery into a single mega-studio. The deal places a wide range of film and television assets under one corporate roof, including the Paramount Pictures film studio, the CBS broadcast network, Warner Bros. Pictures, CNN, and the HBO and Showtime cable brands, alongside the two streaming platforms.
Ellison, who previously ran Skydance Media, chose to apply the name of his original production company to the entire conglomerate. Skydance Media has spent two decades building a track record in action-driven film and television, with long-standing relationships with stars such as Tom Cruise and Mark Wahlberg. In a statement, Ellison framed the merger as a way to strengthen the combined studios rather than erase their histories.
«By combining them, we aren’t rewriting history — we’re equipping these iconic studios with a more powerful engine,» Ellison said. «Together, we are Skydance: a creative-first home for bold, quality storytelling.»
The decision to keep HBO Max and Paramount+ separate comes as media companies continue to experiment with bundling strategies. Rather than forcing subscribers to choose between services or merging them into a single app, Skydance appears to be betting that a combined offering can reduce churn and increase engagement across both platforms.
The merger has also drawn attention from industry figures. Actor John Leguizamo publicly addressed Ellison, urging him to consider the broader needs of the industry and the public as he takes over the new company. «Come on, Dave. Do the right thing. Don’t just think of yourself and your pocket. Think of what Americans need and what the industry needs,» Leguizamo said.
Inside the Paramount lot, activity has intensified as the closing date approaches. The industry is closely watching which executives will remain in place under Ellison’s leadership and how the combined company will be structured. The integration of two major studios is expected to bring significant changes to production, distribution, and streaming operations.
For now, the clearest signal from Skydance is that HBO Max and Paramount+ will continue to operate as separate brands under one corporate parent. The company has not yet detailed how a bundle might be priced or when it could become available to consumers. More information is expected after the deal officially closes next week.
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