Paramount Skydance co-CEOs David Ellison and Ynon Kreiz spoke with CNBC just days after the $85 billion acquisition of Warner Bros. Discovery officially closed on Tuesday, expressing confidence that the newly formed conglomerate is ready to capture market share.
Ellison described the combined business as being “positioned to win in every single vertical,” highlighting the sheer scale of assets now under the Skydance banner. The entity brings together two major film studios—Paramount and Warner Bros.—alongside the CBS broadcast network, a vast pay television portfolio featuring CNN, TNT, MTV, and BET, and the streaming platforms Paramount+ and HBO Max.
The leadership structure involves a split in executive responsibilities. Ellison, who also serves as chairman, will concentrate on the company’s creative vision, technological innovation, and long-term strategy. Conversely, Kreiz, a media veteran with three decades of experience known for his track record as a turnaround executive, will oversee the integration process, daily management, and operations.
The executives face significant obligations stemming from a September settlement with a coalition of state attorneys general who had challenged the merger on antitrust grounds. Under the agreement, Skydance must commit to releasing a minimum of 30 films per year in theaters during 2027 and 2028, increasing that threshold to at least 32 films annually in 2028, 2030, and 2031. Current scheduling data from Rentrak indicates that 35 films are already slated for release next year.
Additionally, Ellison has previously indicated plans to consolidate the separate Paramount+ and HBO Max streaming services into a unified platform. The co-CEOs joined CNBC for an interview starting at 8:30 a.m. ET to discuss the merger’s completion and their roadmap for the future.
Consolidating Paramount+ and HBO Max is the bold move everyone’s waiting to see. Fingers crossed it doesn’t become a messy technical disaster.
Thirty films a year seems low when they already have 35 scheduled. The antitrust deal might actually be a win for audiences.