Skydance co-CEO David Ellison told CNBC on Thursday — days after Paramount's acquisition of Warner Bros. Discovery officially closed — that the combined company is "positioned to win in every single vertical that we operate in."
Skydance includes film studios Paramount and Warner Bros.; the CBS broadcast network; a sprawling pay TV portfolio that includes CNN, TNT, MTV and BET; and streaming services Paramount+ and HBO Max.
Ellison and co-CEO Ynon Kreiz plan to split executive duties, with Ellison focusing on the company's creative vision, technological innovations and long-term strategy while Kreiz leads the integration of the two companies and handles day-to-day management and operations.
"We have a unique opportunity to build the next generation media and entertainment global company that is powered by creativity and technology," Kreiz said. "We have the assets that David mentioned. We have the capability. We have the people. And all of this is happening at the point in time when the industry is at an inflection point, where it's getting harder and harder to reach the consumer and aggregate fans."
Kreiz is a 30-year veteran of the media space with a reputation as a turnaround man. Ellison, who is also Skydance chairman, has spent more than 15 years as an on-set producer and has said he's looking to position Skydance as a creative hub for filmmakers.