Skydance Unveils Leadership Team Ahead of Warner Bros. Discovery Merger

Key Points

• David Ellison will serve as chairman and CEO of the combined company, while former Mattel CEO Ynon Kreiz will become co-CEO and oversee day-to-day operations and integration.
• Andy Gordon will become president and serve alongside Ellison and Kreiz on Skydance’s board of directors.
• Casey Bloys will oversee original programming for HBO Max and Paramount+, while George Cheeks will co-lead Skydance TV.
• Dana Goldberg and Josh Greenstein will co-chair the motion-picture group overseeing Paramount Pictures and Warner Bros.
• Mark Thompson will remain chairman and editor-in-chief of CNN Worldwide, and Bari Weiss will stay editor-in-chief of CBS News.
• The new leadership structure is contingent on completion of Paramount Skydance’s acquisition of Warner Bros. Discovery.

Paramount Skydance (NASDAQ: PSKY) has named the executive team expected to lead the combined company as Skydance following its anticipated acquisition of Warner Bros. Discovery. David Ellison will serve as chairman and CEO, while Ynon Kreiz will become co-CEO with responsibility for day-to-day management and the integration of the two media businesses.

Ellison and Kreiz Will Lead Strategy and Integration

Ellison will oversee Skydance’s long-term strategic direction, creative vision, technology initiatives, talent relationships, partnerships and capital-allocation decisions. Kreiz will lead the day-to-day management of the combined company and coordinate the integration of Paramount and Warner Bros. Discovery.

Andy Gordon, Paramount’s current chief strategy officer and chief operating officer, will become president. Ellison, Kreiz and Gordon will serve on the company’s board, with Ellison as chairman.

HBO Max, Paramount+ and Television Units Gain New Leaders

Casey Bloys will become co-chair and chief content officer of the direct-to-consumer division, overseeing original programming for HBO Max and Paramount+. Jean-Briac “JB” Perrette will serve as co-chair and chief business officer of the direct-to-consumer and television divisions, handling global distribution, advertising sales, content sales, streaming strategy and business operations.

George Cheeks will be co-chair and chief content officer of Skydance TV. His portfolio will include Warner Bros. Television Studios, CBS Studios, Paramount Television Studios, the CBS Television Network, 27 local television stations and more than 50 cable networks.

Film, DC Studios and News Divisions Retain Key Executives

Dana Goldberg and Josh Greenstein will co-chair Skydance Motion Picture Group, overseeing Paramount Pictures, Warner Bros. and the company’s film business. Their responsibilities will include studio strategy, development, production, marketing, distribution and business affairs.

James Gunn and Peter Safran will remain co-chairmen of DC Studios. Mark Thompson will continue as chairman and editor-in-chief of CNN Worldwide, while Bari Weiss will remain editor-in-chief of CBS News. Both news leaders will report to Ellison and Kreiz.

Investor Takeaway

The leadership plan gives investors an early view of how Skydance intends to manage a broad entertainment portfolio that includes Paramount Pictures, Warner Bros., CBS, CNN, HBO, HBO Max, Paramount+, Pluto TV and numerous cable networks. The structure balances executives from Paramount, Warner Bros. Discovery and Skydance across the company’s most important content and distribution units.

The principal investor question is execution. Realizing the expected value of the transaction will depend on closing the acquisition, integrating the businesses, managing overlapping assets and costs, retaining creative talent, and improving the economics of streaming, film and traditional television. The announced appointments establish management responsibilities, but they do not by themselves quantify merger savings, revenue gains or the financial outlook for the combined company.