Skydance will integrate HBO Max, Paramount+ and Discovery+ into a single streaming service.

On Oct. 6, local time, IT media outlet Engadget reported that Skydance announced the plan as it wrapped up its $110 billion acquisition of Warner Bros Discovery.

The new company formed by combining Paramount Skydance and Warner Bros Discovery is named Skydance. Skydance did not disclose a detailed integration schedule, the new service name or pricing. It said the currently operating HBO Max, Paramount+ and Discovery+ will be integrated into one service over time.

The streaming-service integration was previously flagged. Skydance Chief Executive David Ellison (David Ellison) has been pursuing a plan to combine Paramount+ and HBO Max into a single service. At the time, the integrated service was projected to have just over 200 million direct-to-consumer subscribers if the combination took place. Ellison stressed that HBO will be operated independently even after the merger.

The integration strategy is also reflected in appointments. Skydance recently named Casey Bloys (Casey Bloys), HBO CEO, as co-chair of Skydance's direct-to-consumer business and chief content officer.

Through the merger, Skydance will bring together major film studios owned by Paramount and Warner Bros Discovery, broadcasting networks such as CBS and CNN, and streaming services including HBO Max and Paramount+. Key content intellectual property, including DC, Harry Potter, Game of Thrones, Mission: Impossible, The Lord of the Rings, Star Trek, Looney Tunes and SpongeBob, was also folded into the new company.

Skydance plans to roll out 30 theatrical films a year and more than 180 TV programs and series after the merger. The company will start trading on the New York Stock Exchange under the ticker SKYD, and Warner Bros Discovery shares will stop trading on Nasdaq.

Costs from the large-scale integration are also expected. Skydance has already warned employees about possible layoffs, and it was reported to take on about $80 billion in debt in the merger process. The company now faces the task of growing its streaming business while maintaining cash flow and improving performance in its theatrical film business.

The deal was completed after about a year of negotiations and regulatory procedures. The merger was delayed at one point by lawsuits brought by several U.S. states, but California resolved its case in a settlement last month, clearing procedures that had held up the deal. U.S. Supreme Court Justice Elena Kagan (Elena Kagan) also dismissed an emergency request to block the transaction.

The key going forward is how to integrate the three streaming services into one. Skydance has not yet disclosed the launch timing, name or price of the integrated service.