Paramount Skydance has completed its $110 billion acquisition of Warner Bros. Discovery, confirming plans to bring Paramount+, Discovery+ and HBO Max together in a single streaming service over time.

The deal was finalized Tuesday, Oct. 6, 2026, after 10 months of hostile bidding, negotiations and legal battles. The combined company will operate under the Skydance name.

The purchase follows Skydance’s 2025 acquisition of Paramount Global and places a collection of major media businesses under one owner, including Paramount Pictures, Warner Bros. Pictures, CBS, CNN and HBO.

One streaming service is now the plan

For subscribers, the most immediate confirmed consequence is Skydance’s intention to unify its direct-to-consumer platforms. Paramount+, Discovery+ and HBO Max are expected to feed into one service rather than continuing indefinitely as separate streaming destinations.

However, the company has not announced what that combined platform will be called, when it will debut or how much it will cost.

In its statement announcing the completed acquisition, Skydance said consumers could expect “significant improvements to its direct-to-consumer streaming products, which will unify into a single service over time.” The company also promised “greater innovation from a company built with technology at its core.”

That wording establishes the long-term strategy without providing a timetable for the transition. It also leaves unanswered whether any of the current streaming names will survive as the identity of the eventual service.

HBO executives take leading DTC roles

Skydance has also unveiled the executives who will steer its streaming operation. HBO Chairman and CEO Casey Bloys will become co-chair and chief content officer of Skydance DTC, the division handling the company’s current streaming businesses.

JB Perrette, CEO of WBD Global Streaming and Games, will serve alongside Bloys as co-chair and chief business officer.

The appointments give two Warner Bros. Discovery leaders central positions in Skydance’s direct-to-consumer operation. Even so, the company has not confirmed whether the HBO name, the Paramount brand or an entirely new identity will lead the unified platform.

The streaming market keeps consolidating

Skydance’s move is part of a broader reversal from the streaming expansion seen in the late 2010s and early 2020s, when entertainment companies built an increasingly crowded field of services with different libraries, prices and content strategies.

Paramount+ had already expanded by absorbing Showtime and BET+. Elsewhere, Disney has effectively combined Disney+ and Hulu while temporarily retaining individual apps for both services. Amazon has pursued another model, enabling users to subscribe to separate content libraries through Prime Video.

Netflix also showed interest in Warner Bros. during the bidding battle, with HBO Max viewed as a possible addition to its service. Skydance ultimately secured Warner Bros. Discovery instead.

The enlarged company enters its next chapter carrying roughly $80 billion in debt. Before the Warner Bros. Discovery deal closed, David Ellison’s Paramount+ had emphasized live sports, while Taylor Sheridan moved to NBCUniversal.

What Happens Next?

Skydance has confirmed the destination for Paramount+, Discovery+ and HBO Max, but not the route or schedule. The company still must disclose the unified service’s name, launch timing, subscription price and the precise future of each existing app.

Until those details arrive, subscribers know that one combined service is coming “over time,” but not when the current streaming lineup will begin to change.