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The $111 billion merger combining Paramount Skydance and Warner Bros. Discovery is set to close in early October 2026, with the combined company being renamed 'Skydance.' CEO David Ellison addressed employees about the new name, bid farewell to longtime Paramount leaders, and signaled plans for future projects including a 'Barbie 2.' Industry insiders are speculating about executive survivors, including whether Paramount TV chief George Cheeks will gain expanded oversight at the new entity. Reaction has been mixed: European entertainment leaders expressed cautious optimism about Ellison's commitment to cinema, while actor John Leguizamo publicly urged Ellison to prioritize the industry and American workers over profit. Separately, questions persist about whether Skydance will keep its base in Los Angeles, as a consent decree with state attorneys general does not legally require the company to stay, despite Ellison's public pledge to remain in Hollywood.