Skydance Leaders Unveil Dual-Lot Strategy and Leadership Split After Warner Bros. Deal

Hours after the acquisition of Warner Bros. Discovery officially closed, Skydance Media’s newly formed executive leadership team held a press conference on the Paramount lot in Hollywood. David Ellison, serving as chairman and CEO, and co-CEO Ynon Kreiz, dressed in matching jeans and black blazers, addressed the media for approximately 30 minutes at Stage 3, marking Ellison’s ascent to the top of the entertainment industry.

The event began with a dynamic trailer highlighting the extensive intellectual property portfolio now under Skydance’s control, featuring franchises such as “Batman,” “Game of Thrones,” the “Star Trek” universe, and “Scream.” Joining the executives on stage were key figures including RedBird Capital founder Gerry Cardinale, Skydance president Andy Gordon, chief legal officer Makan Delrahim, and various heads of film, television, and digital operations.

When asked about the use of the newly acquired Warner Bros. lot alongside the historic Paramount property, Ellison confirmed that both facilities would remain operational. He suggested a potential division of labor between the sites, with one likely dedicated to feature films and the other to television and streaming content. “We’ll go back and forth, as well as to the east coast as required and to our Santa Monica offices for animation,” Ellison stated, noting that while Burbank is a strong candidate for film production due to its legacy, no final decisions have been made.

Addressing the co-CEO structure, Kreiz explained that all business units would report to both leaders, with roles divided by their complementary expertise. Ellison will concentrate on creative technology and long-term strategy, while Kreiz will oversee daily operations, integration, and business management. Despite this separation, Kreiz emphasized that both executives would remain deeply involved in each other’s domains, particularly during the initial integration phase.

The press gaggle also touched on political connections, as a reporter questioned Ellison about his recent interactions with President Donald Trump regarding CNN. Ellison clarified that Skydance has not discussed news operations with any political figure, other than expressing a commitment to truth and editorial independence. He further explained that his travels to Washington D.C. have been focused on advocating for federal tax incentives for domestic production, highlighting that Paramount’s current domestic production level sits at roughly 5%, with much of the industry’s work shifting overseas away from California.