'We did it!': Read David Ellison's memo to employees after Paramount's WBD deal closed

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As we work toward these goals, we must never lose sight of what matters most: our people. We will build a culture where people feel respected, empowered, supported and proud of the work they do. And we will extend that same commitment, with reliability and responsibility, to our creators, audiences, consumers, advertisers and partners.None of what we accomplish happens in a vacuum. It reflects everyone joining forces to unlock the full potential of our assets: an unmatched portfolio of brands, franchises, libraries, IP and creative talent, with decades of history and, in many cases, decades of opportunity still ahead.Together, we can reach audiences across platforms, markets, and generations in ways neither Paramount nor WBD could have achieved alone. With the talent, scale, relationships and resources to build on, we can create something truly distinctive.For audiences, it means more choice and more ways to experience the stories they love. For creators, it means a partner with the scale and capabilities to help their best ideas reach the widest possible audience. For our partners, it means a broader, more powerful platform to build on. And for the broader creative community, it means an enduring commitment to storytelling and the people who make it possible.That is the foundation of Skydance. And it’s why this combination matters so much.Honoring an extraordinary legacyThe union of these two iconic companies represents an exciting future. But, just as important as what we build together is preserving what has made them iconic in the first place. Paramount and Warner Bros. each have a distinct identity and extraordinary legacy that deserves to stand on its own.In choosing our corporate brand, we never wanted to diminish, alter or overshadow any of the assets that have global recognition and have withstood the test of time. Both studios will continue to operate under their own names, and audiences will still see the Paramount mountain and the Warner Bros. shield before the films and shows they love.Warner Bros. is woven into the history of modern entertainment, from film and television to journalism, sports, unscripted programming and some of the world’s most recognizable characters and franchises. Paramount has an equally extraordinary legacy, with more than a century of storytelling that helped define the American film industry and shape entertainment across every medium.We realized early on that simply combining the two names — WarnerParamount, ParaWarner or ParamountWarner — accomplished none of what we wanted. Every variation somehow made two giants feel smaller, not greater. It asked each to give something up rather than allowing us to create something new. This isn’t a merger of convenience. It’s the beginning of a new era in entertainment, and we wanted a name that looks forward rather than one that simply splices together the past.That brought us to Skydance — a name that obviously has special meaning to David, who chose it for his own studio 20 years ago. It evokes possibility: scale and ambition, creativity and imagination, artistry and innovation. Most importantly, it doesn’t compete with either legacy. It gives the new company an identity of its own while allowing Paramount and Warner Bros. — and all our extraordinary brands — to remain in the spotlight.Because ultimately, what we are bringing together is much more than brands and libraries. It is the creative spirit, ambition and craftsmanship that have kept these companies culturally relevant for generations. That spirit will continue to be a core part of who we are at Skydance.And who we are will also be defined by what we strive to accomplish — not just for our company, but for the industry at large. That means looking ahead to the forces that are reshaping entertainment and finding ways to harness them to expand what’s possible — for creators, for audiences and for the business itself.Financial strengthWe’re building a diversified company with the financial strength to compete aggressively and the discipline to create sustainable value. That’s not just important to our investors — it’s important to all of us. A financially strong, well-run company gives us the freedom to take creative risks, invest in our people and our technology, and pursue the kind of opportunities that set us apart.In concrete terms, we are together one of the largest media and entertainment companies in the world, with nearly $70 billion in revenue. As we have said publicly, we are also targeting at least $6 billion in synergies, which will make us leaner and more nimble and free up capital to invest in the stories, creators and technology that matter most.Integrating two companies will bring change, including difficult decisions that affect our workforce. We are committed to handling this process thoughtfully and respectfully.The road aheadToday is Day One.We have an incredible collection of assets. Extraordinary creative talent. Global scale. The technology to lead. And most important, we have the people who bring it all to life every day.We have everything we need to win, and that is our goal: to build a next-generation global media and entertainment company that puts audiences first, empowers creators, embraces innovation and creates lasting value for generations to come.But none of this happens without you. Thank you for everything you’ve brought to this moment. We’re proud to write this next chapter with you.Now the real work begins.Let’s go!David and Ynon