Paramount Skydance on Tuesday completed its $110 billion takeover of Warner Bros Discovery, creating a Hollywood heavyweight called Skydance under CEO David Ellison.

The deal brings together the studios behind Mission: Impossible, Harry Potter and DC Studios alongside CBS, CNN, Paramount+ and HBO Max. Shares of the combined company moved to the New York Stock Exchange, trading under the ticker SKYD.

Ellison said the Skydance name was chosen to retain the individual identities of Paramount and Warner Bros rather than combining them under a new brand. Mark Thompson will remain CNN chairman and editor-in-chief, reporting to Ellison and co-CEO Ynon Kreiz.

Settlements with US states and a writers union removed the main legal barriers. The merger follows Skydance’s acquisition of Paramount last year and a bidding contest with Netflix for Warner Bros.

The name revives Ellison’s original production company. A debut post on X announced the choice. DC Studios leaders Gunn and Safran are reportedly staying on.