Skydance Media on Monday rolled out the new executive leadership team ahead of this week’s long-stalled $8 billion merger with Paramount Global.
Skydance CEO David Ellison, the son of billionaire Oracle co-founder Larry Ellison, will assume the helm of the new publicly traded company, to be called Paramount Skydance Corp., when it debuts Thursday.
The media giant — whose properties include CBS, MTV, the Paramount Pictures studio and the Paramount+ streaming service — will be structured into three primary business segments: Studios; Direct to-Consumer, and TV Media, the tech scion said.
Jeff Shell, the former CEO of NBCUinversal who was ousted by parent company Comcast in 2023 over allegations of inappropriate conduct with a CNBC reporter, will serve as president.
Shell had moved on to become sports and media chairman at RedBird Capital Partners, one of the major investors in the deal that bought out media heiress Shari Redstone’s controlling stake in Paramount.
Current Paramount co-CEO George Cheeks — who was instrumental in settling Paramount’s lawsuit with President Trump over the controversal “60 Minutes” edit of its Kamala Harris — will remain at the new company as the chair of the TV Media division.
Cindy Holland, a former Netflix exec who has been serving as a senior advisor to Ellison since October, will oversee the direct-to-consumer division, which includes Paramount+ and Pluto TV.
RedBird’s Andy Gordon, a veteran of Goldman Sachs, will serve as chief operating officer, while Paramount’s Andrew Warren will continue as interim chief financial officer.
Skydance chief creative officer Dana Goldberg and former Sony Motion Picture Group president Josh Greenstein will grab the reins as co-chairs of Paramount Pictures. Goldberg will also serve as chair of Paramount Television, while Greenstein will serve as vice chair of platforms.
Additionally, Skydance’s general counsel Stephanie Kyoko McKinnon will join as Paramount’s general counsel and acting chief legal officer, while Amazon Global Media and Entertainment’s Jim Sterner will serve as chief people officer and Melissa Zukerman will serve as chief communications officer.
“I’m thrilled to introduce our new executive leadership team — backed by deep industry experience, proven track records, and a shared commitment to excellence, this world-class team is uniquely equipped to rise to the occasion and deliver on our bold vision for a new Paramount,” Ellison said in a statement.
“Each member was chosen to align with our goals and with the intention to drive transformation. Together, we will foster an environment where creative and technical talent collaborate seamlessly, marrying leading technologies with powerful storytelling and artistic vision to unlock Paramount’s full potential and help shape the future of our industry.”
Under the two-step merger, Skydance will acquire Redstone’s holding company National Amusements before merging with the independent Hollywood studio behind the recent hits “Top Gun: Maverick” and “Mission:Impossible — The Final Reckoning.”
The new deal provides $2.4 billion for Redstone, $4.5 billion to non-NAI Paramount shareholders and an additional $1.5 billion in new capital to help pay down debt and recapitalize the company’s balance sheet, the company said.
Redstone, who will receive $180 million in severance and other benefits on top of her stock, will exit the board of directors once the deal is completed.
