Skydance's David Ellison tells CNBC combined company is 'positioned to win in every single vertical'
Skydance includes two film studios, the CBS broadcast network, a sprawling pay TV portfolio and streaming services Paramount+ and HBO Max.
TL;DR
- Skydance, now combining Paramount and Warner Bros. assets, aims to "win in every single vertical."
- The merged entity boasts a strong content engine, significant streaming subscriber base (HBO Max and Paramount+), and a profitable linear portfolio including CBS.
- Co-CEOs David Ellison and Ynon Kreiz will divide responsibilities, with Ellison focusing on creative and long-term strategy, and Kreiz on integration and operations.
- The company must manage approximately $80 billion in debt and targets $6 billion in cost savings over three years through efficiencies in technology, marketing, real estate, and labor.
- Skydance agreed to release at least 30 films theatrically annually in 2027-2028 and 32 films in 2029-2031 as part of a settlement with state attorneys general.
- The acquisition brings CBS and CNN news divisions under one roof, with plans to maintain independent editorial operations, supported by a new oversight board to ensure impartiality.
- Potential workforce reductions are acknowledged, with a commitment to handle them respectfully and transparently.