The consolidated company, which began trading on the NYSE as $SKYD, faces $80B in net debt against $70B in annual revenue and aims to reduce costs by $6B. In a "Day 1" memo to employees, leadership warned that workforce reductions are likely during the integration process. During a town hall, Ellison pledged not to interfere in the editorial independence of CNN and CBS News and expressed support for CNN's legal challenge against the Trump administration over White House access.
Tuesday, October 20, 2026
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Skydance Names Powell Jobs and Bobby Kotick to Board After $110B Merger
Business14 days ago
Former UK Prime Minister Tony Blair will serve as a strategic advisor to the leaders of the combined media entity now known as Skydance. Chairman and CEO David Ellison has appointed a new board of directors, including Ynon Kreiz, Emerson Collective founder Laurene Powell Jobs, and former Activision CEO Bobby Kotick, to oversee the business. The appointments follow the closing of the transaction that brings the studios and networks of Paramount and Warner Bros. Discovery under one corporate umbrella.
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