David Ellison has announced the senior executive team that will lead the combined entertainment giant formed by Paramount’s acquisition of Warner Bros. Discovery, a deal set to close Tuesday.
Ellison will serve as chairman and CEO of the merged enterprise. He will be joined by Ynon Kreiz, the former chief of Mattel, who has been named co-CEO. Prior to his eight-year tenure at Mattel, Kreiz served as chairman and chief executive of Maker Studios before its sale to The Walt Disney Co. While Ellison holds the top title, Kreiz will focus on the integration of the combined business and day-to-day management. Andy Gordon will serve as president, working with both leaders on strategic priorities. All three will sit on the board of directors.
Casey Bloys and George Cheeks Assume Executive Roles
Casey Bloys has been appointed co-chair and chief content officer of Skydance DTC. Bloys will oversee a global streaming empire including Paramount+, Pluto, and HBO Max. This appointment follows the departure of Cindy Holland, Paramount’s former chair of direct-to-consumer. Some industry observers have described Holland’s removal as heartless.
George Cheeks will serve as co-chair and chief content officer of Skydance TV, overseeing TV studios and linear channels. JB Perrette will act as co-chair and chief business officer for both Skydance TV and Skydance DTC, managing the business operations of streaming and television while Bloys and Cheeks focus on strategy, marketing, and content.
Josh Greenstein and Dana Goldberg Lead Film Studios
The company’s film studios will be led by co-chairs Josh Greenstein and Dana Goldberg. The duo is tasked with managing a slate that is legally committed to releasing 32 movies per year within two years. This follows a legal settlement required to allow the merger to proceed. James Gunn and Peter Safran will continue to run DC Studios as co-chairmen.
Bari Weiss will continue to serve as editor-in-chief of CBS News.
Paramount Skydance Faces Massive Debt After Merger
The broader corporate leadership team includes:
- Dennis Cinelli: Chief Financial Officer
The merger, valued at $110 billion, leaves the new entity facing approximately $79 billion in debt. According to CNBC, Paramount Skydance intends to achieve $6 billion in cost savings within three years of closing the deal. To reach this efficiency target, the company plans to roll out Oracle Fusion and consolidate BET+, Pluto, and Paramount+ onto one technical platform.
The Rise of Skydance
Ellison founded Skydance in 2010 with backing from his father, Oracle co-founder Larry Ellison. Less than 18 months ago, the company’s hits were primarily limited to “Top Gun: Maverick” and the Mission: Impossible series. In August 2025, Ellison closed an $8 billion deal to buy Shari Redstone’s majority stake in Paramount before pursuing Warner Bros. The resulting entity, Skydance, now controls brands including Yellowstone, Friends, Harry Potter, and Mission Impossible.
Industry Movements
Last month, Kreiz was seen having a three-hour dinner at Marea in Beverly Hills with Peter Rice, the former chairman of Walt Disney Television and a former Fox executive.
Market Valuation
Some analysts estimate the fair value of Paramount Skydance at $9.81, slightly above the recent share price of $9.50. However, this valuation could shift if Paramount+ spending increases faster than pricing and subscribers, or if theatrical films underperform.
Worth a look