David Ellison Reveals Skydance Leadership Team as Paramount-Warner Bros. Discovery Merger Closes

Hollywood is on the brink of one of its largest corporate mergers ever. The union of Paramount and Warner Bros. Discovery will consolidate two historic studios, major streaming platforms, and a vast array of television brands under one umbrella.

This deal has been in the works for some time. Ellison and his team finalized the $111 billion acquisition in February, outbidding Netflix, which had previously reached an agreement to acquire Warner Bros.’ studios and streaming assets. The merger was further cleared by a judge’s approval of an antitrust settlement involving 12 states earlier this week.

On Friday, Ellison announced that the new entity will be branded as Skydance, reviving the name of the production company he established in 2006, and it will trade under the ticker SKYD. He emphasized that this name will allow Paramount and Warner Bros. to maintain their unique identities instead of being overshadowed by a new corporate label.

With the merger set to officially close on Tuesday, Ellison disclosed the leadership team that will assist him in managing the new company, as reported by Variety. He will take on the roles of chairman and CEO, alongside co-CEO Ynon Kreiz, the former Mattel chief, who will assume his position when the deal finalizes.

Ellison’s executive team comprises Andy Gordon as president, Dennis Cinelli as chief financial officer, Makan Delrahim as chief legal officer and president of global corporate affairs, Dane Glasgow as chief product officer, Rebecca Mall as chief marketing officer, and Melissa Zukerman as chief communications officer. According to Deadline, Kreiz will focus on the daily management and integration of the newly formed business.

For fans, the most intriguing appointments are on the creative front. HBO’s Casey Bloys will step in as co-chair and chief content officer of Skydance DTC, overseeing programming for both HBO Max and Paramount+. George Cheeks will serve as co-chair and chief content officer of Skydance TV, while JB Perrette, who previously led streaming and games at Warner Bros. Discovery, will be co-chair and chief business officer of both Skydance TV and Skydance DTC.

On the film side, Paramount’s Dana Goldberg and Josh Greenstein will co-chair the Skydance Motion Picture Group, managing films from both Paramount and Warner Bros. This means that Warner Bros. Motion Picture Group heads Michael De Luca and Pamela Abdy will depart, with Tuesday marking their final day.

Superhero enthusiasts received some good news as well. James Gunn and Peter Safran will continue as co-chairmen of DC Studios, guiding the strategic and creative direction of the DC Universe across film, television, animation, themed entertainment, and gaming.

The leadership for the news division is also confirmed. Mark Thompson will stay on as chairman and editor-in-chief of CNN Worldwide, while Bari Weiss will continue as editor-in-chief of CBS News.

The merger brings together iconic franchises such as ‘Harry Potter,’ ‘Mission: Impossible,’ ‘Friends,’ and ‘Yellowstone,’ along with networks like CBS, CNN, TNT, MTV, and BET. This extensive portfolio requires careful management, which is why the selection of leadership has garnered significant attention.

However, integration will not be immediate. Needham analyst Laura Martin informed investors that merging Paramount and Warner Bros. Discovery into Skydance could take between two and three years, as reported by CNBC. The company also aims to achieve $6 billion in cost savings within three years of closing.

Additionally, the merger comes with certain commitments for the studio. As part of the settlement led by a coalition of attorneys general, TheWrap reported that the combined entity must release at least 30 films annually in theaters for the first two years, and 32 films per year for the subsequent three years. The company is also expected to manage approximately $80 billion in debt.

For viewers, the immediate impact may not be as pronounced as the headlines suggest. Paramount and Warner Bros. will continue to operate as separate studio brands, and streaming services like HBO Max and Paramount+ will retain their names for the time being.

Nevertheless, the executive lineup indicates how Ellison envisions the new company’s operations, with Paramount’s film leaders overseeing both studios and HBO’s content chief managing streaming. The coming months will reveal whether this merger can fulfill its promise of becoming a creative-first home for storytellers.

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