Skydance’s subtle rebrand proves which company has brand power

Atop the Warner Bros. water tower in Burbank, California, a crew of workers added a small line of text below the WB logo on Monday to mark Paramount Skydance’s $81 billion takeover of Warner Bros. Discovery. The iconic water tower now says “A Skydance Corporation” below the WB Shield logo—a tiny change many onlookers might not give a second thought to, yet one that signals a megamerger of some of America’s best known media brands and intellectual property. The new...