Paramount Plus is officially shutting down as a major streaming service.

HBO Max and Paramount Plus are set to merge into a single streaming powerhouse following the recent merger of Paramount and Warner Bros. Discovery. This $110 billion deal will see Skydance, the new parent company, combine the two platforms over time, bringing together iconic franchises like Game of Thrones, Yellowstone, the DC Universe, Star Trek, and Harry Potter under one roof. Together, they currently boast over 200 million subscribers.

Paramount CEO David Ellison first revealed the merger plans back in March, prior to the completion of the Skydance merger. He stated, “We do plan to put the two services together, which today gives us a little over 200 million direct-to-consumer subscribers. We think that really positions us to compete with the leaders in the space. By mid-year, we’ll have consolidated our three services into one unified stack, and we’ll take a similar approach with this platform going forward. The combined offering, along with our tech capabilities, will enable us to compete with the biggest players in direct-to-consumer.”

In a statement about the merger’s completion, Skydance assured consumers that they can expect significant innovations, including major enhancements to their direct-to-consumer streaming products, which will eventually merge into a single service.

While the specifics of how HBO Max and Paramount Plus will be integrated remain unclear, the parent company has referred to this segment as “Skydance DTC.” It’s likely that the new service will be named Skydance or Skydance Plus, featuring dedicated hubs for HBO Max, Paramount Plus, Discovery, and other brands.

For the time being, HBO’s creative teams will continue to operate independently. Ellison and co-CEO Ynon Kreiz recently announced the leadership structure of the combined entity, confirming that HBO CEO Casey Bloys will serve as co-chair and chief creative officer of Skydance DTC, overseeing original programming and strategy for both HBO Max and Paramount Plus.

Ellison previously praised Bloys and his team for their exceptional work at HBO, emphasizing the importance of maintaining HBO’s independence to continue its successful operations. “Our viewpoint is HBO should stay HBO,” he remarked. “They’ve built a phenomenal brand and are leaders in the space. We want them to keep doing what they do best. By merging the platforms, we can extend our content’s reach to an even broader audience.”

It seems that Skydance is poised to ramp up production at both HBO and Paramount. The company has committed to “enhanced output commitments,” promising at least 30 high-quality theatrical films annually and over 180 television shows and series. James Gunn and Peter Safran will continue to lead DC Studios as part of this new structure.