Paramount Skydance has completed its $110 billion takeover of Warner Bros. Discovery, chief executive David Ellison confirmed at a studio press event.
The media group will keep streaming services HBO Max and Paramount+ separate in the short term before eventually merging them into a single platform.
The deal unites two of Hollywood's largest entertainment conglomerates under the Skydance umbrella. Skydance Media, established by Ellison in 2006, acquired Paramount in August 2025 before finalising the transaction for Warner Bros. Discovery in record time.
Speaking to reporters at the Paramount studio lot to mark the completion of the merger, Ellison set out the leadership team that will guide the combined company and answered questions about the future of its digital streaming operations.
Ellison stated that the long term plan is to bring HBO Max and Paramount+ together into one platform, but acknowledged that the process will take time. He explained that subscribers will see both platforms operating independently for now, though the company may introduce bundled packages or accelerated joint initiatives in the near future, adding that specific details could not yet be shared.
Independent operations and tech integration
The chief executive said centralising the underlying technology infrastructure across the platforms will happen as quickly as possible. Paramount Skydance has already unified backend technology across Paramount+, BET+, and Pluto TV without impacting subscribers, relying on advances in artificial intelligence and related systems.
Paramount+ operates as Paramount's flagship subscription video service, featuring network television programs and theatrical release films. Pluto TV functions as a free ad-supported streaming network, while BET+ targets subscription audiences with focused entertainment programming. HBO Max serves as the flagship direct-to-consumer destination for Warner Bros. Discovery, holding exclusive access to HBO original series and Warner Bros. film catalogs.
Ellison stopped short of confirming whether artificial intelligence tools could simplify the complex process of merging HBO Max and Paramount+ into a single consumer service. According to industry sources cited by Deadline, combining the two major streaming platforms could take up to a year to complete.
Subscriber scale and leadership strategy
Ellison delivered the strategic outline just hours after the deal with Skydance closed. His roadmap sets a distinct course from earlier comments made by Casey Bloys, the chief content officer for HBO and HBO Max, who had raised the prospect of a combined offering to leverage a collective audience exceeding 200 million global subscribers.
A slide presentation released by Skydance earlier in the week displayed individual branding for both HBO Max and Paramount+. The presentation provided clear confirmation that the two services will continue to function independently while executives work through the integration process.
Warner Bros. Discovery brings extensive film production history and television production capabilities to the merged company, along with a library of international distribution assets. Paramount adds century-old film studio operations in Los Angeles, broadcast television networks, and global entertainment franchises to the joint business.
