HBO Max and Paramount Plus to merge into single streaming service under Skydance
The entertainment giants have completed their $110 billion tie-up and plan to combine their streaming apps.
HBO Max and Paramount Plus are set to combine into a single streaming platform following the completion of Paramount’s $110 billion acquisition of Warner Bros Discovery.
The combined entertainment group, operating under the name Skydance, said in a statement that all of its direct-to-consumer streaming products “will unify into a single service over time”. The transaction closed after US Supreme Court Justice Elena Kagan rejected an eleventh-hour attempt to block it.
The deal brings together two of Hollywood’s oldest studios, creating an entertainment catalogue spanning The Sopranos, Harry Potter, and House of the Dragon alongside Yellowstone and SpongeBob SquarePants. It also pools broadcast and cable networks including CBS, CNN, TNT, TBS, Nickelodeon, and MTV.
What happens to HBO Max and Paramount Plus
Skydance has not announced when the unified streaming app will launch, what it will be called, or how much a subscription will cost. The company confirmed that HBO head Casey Bloys will serve as Skydance’s chief content officer and will oversee the combined streaming operations.
Putting both platforms together gives the company an immediate footprint of more than 200 million direct-to-consumer streaming subscribers, based on figures shared by Skydance leadership during an investor call in March. That scale is intended to mount a serious challenge to Netflix, which reported 325 million subscribers in January.
Paramount secured the deal after a protracted bidding contest against Netflix, with Warner Bros Discovery’s board accepting an offer worth $31 per share in February.
Who is running Skydance
The combined company is led by co-chief executives David Ellison and former Mattel chief executive Ynon Kreiz. Ellison, who founded the original Skydance production company in 2006 before merging it with Paramount, is overseeing long-term strategy, creative direction, technology, and capital allocation. Kreiz, who stepped down from the toymaker shortly before the deal closed, is handling day-to-day operations and corporate integration.
Dennis Cinelli stays on as chief financial officer, retaining the role he held at Paramount.
Other executive roles have also been reshuffled across the combined business. David Berson, the head of CBS Sports, takes charge of the merged sports division as Warner Bros Discovery’s sports chief, Luis Silberwasser, steps down. In news, CNN chair Mark Thompson and CBS News editor-in-chief Bari Weiss remain in their current posts and join the group's news executive leadership team.
Shares in Skydance began trading on the New York market under the ticker symbol SKYD, finishing their opening session down at $9.53.
Key numbers
| What | Figure | Source |
|---|---|---|
| Total deal value | $110 billion | Skydance press release |
| Offer price per Warner Bros Discovery share | $31 | Warner Bros Discovery board statement |
| Combined streaming subscriber base | More than 200 million | David Ellison investor remarks |
| Netflix subscriber count | 325 million | Netflix earnings report, January |
| Skydance closing stock price | $9.53 | Market closing data |
Questions readers are asking
When will HBO Max and Paramount Plus merge into one app?
Skydance has not yet announced a timeline or launch date, stating only that the platforms will unify into a single service over time.
What will the combined streaming service cost?
Pricing and subscription tiers have not been disclosed by the company.
Who is running the combined media business?
David Ellison and former Mattel chief executive Ynon Kreiz serve as co-chief executives, with Casey Bloys overseeing content across the unified platforms.
In this story
| Name | Role in the story |
|---|---|
| Skydance | The merged media company created from Paramount and Warner Bros Discovery. |
| Paramount Plus | Streaming service being unified with HBO Max. |
| HBO Max | Streaming service being unified with Paramount Plus. |
