Warner Bros. and Paramount unveil Skydance as the name of their merged company as both studios restructure

The merger between Warner Bros. and Paramount Pictures could move forward as soon as this week, with the new company named Skydance after the studio David Ellison founded 20 years ago. After 12 states threatened to challenge the deal, they appear to have settled once Ellison promised to produce 30 studio films a year. The proposed Skydance would control CNN, CBS, MTV, Adult Swim, Cartoon Network, Nickelodeon, Batman and SpongeBob SquarePants, while Warner studio heads Pam Abdy and Mike DeLuca are reportedly on the way out and James Gunn and Peter Safran are reported to remain.