“Today is the first day. We have a long way to go and we have a lot of work to do.”
That’s one of the sentences Skydance chief David Ellison delivered Tuesday to those gathered at Warner Bros. Park’s Steven J. Ross Theater. in Burbank, the day he could finally call those who worked there. its employees.
Ellison mentioned the long and difficult road ahead to acquire the legendary studio and also said that there would be difficulties ahead. But he also maintained his message about building something that could compete with the biggest companies in the attention economy.
“When we decided to acquire Paramount, we did so with even greater ambition,” he said in remarks shared with The Hollywood Reporter. “We believed then – and we believe even more today – that this industry needs another company with the scale, resources, technology and creative firepower to take on the world’s biggest players.
He continued: “Because the competitive landscape has fundamentally changed. We’re no longer just competing against traditional media companies. We’re competing for people’s time and attention with some of the largest and most sophisticated technology companies in the world – companies with enormous scale, global reach and virtually unlimited resources. So we decided to build a company that could respond to this moment.”
A sizzle reel showcasing the two companies’ combined intellectual property was released before the speeches, which one source describes as “impressive,” highlighting the vast entertainment empire that has been created.
Ellison introduced his leadership team, from President Andy Gordon and CFO Dennis Cinelli to Skydance Co-Presidents and CCOs Casey Bloys and George Cheeks to Skydance Film Group Co-Presidents Dana Goldberg and Josh Greenstein, among others, while also giving a nod to RedBird’s Gerry Cardinale.
Outside, workers were adding fresh paint to Warner Bros.’ iconic water tower. The new addition? Text under the logo that read “a Skydance Corporation,” reflecting similar language a few miles away in the prime Hollywood parking lot.
Ynon Kreiz, the executive who is widely seen as the man who will not only ensure the vision is executed but also make the decisions on costs and job cuts, provided a bit more detail on the plans. A source said the former Mattel CEO came across as an “intense guy.”
Outlining the company’s goals, Kriez said the team would work to “establish Skydance as the premier Hollywood content engine…accelerate our integrated DTC platform…and optimize our highly profitable linear television portfolio, reaching global audiences across all entertainment sectors, anchored by CBS, the crown jewel of broadcast television.” »
Achieving this, he continued, would include winning at storytelling and creating the most technologically capable media company, among other goals.
“To win, we have to be innovative. Innovation can be anywhere. Not just in the quality content we create, or in our new technology stack that will be second to none,” Kreiz told the audience. “Innovation can happen in every part of the business, in any role, by anyone and we should all be looking to improve what we have here today, finding better ways of doing things and challenging conventions. And we will have plenty of opportunities to develop new businesses, products, games and experiences to engage fans wherever they are and be where the consumer is going. Our industry rewards those who move forward, and we intend to lead the way.”
After their remarks, Ellison and Kreiz were interviewed by CNN anchor Anderson Cooper, who asked about next steps for the company, as well as CNN. Ellison said he has full confidence in CNN chief Mark Thompson and supports his editorial independence. He also said he supported CNN’s efforts to gain full access to the White House, which restricted his access alongside MS NOW and Politico, sparking a lawsuit.
Ellison was also asked about Secretary of State Pete Hegseth’s comments earlier this year, in which he blasted “more fake news from CNN.”
“No quarter, no mercy for our enemies. Yet some in the press just can’t stop,” Hegseth said. “The sooner David Ellison takes over this network, the better.”
Ellison said he saw the quote but didn’t know what Hegseth was talking about.
And yet, some left the town hall disappointed. The big question on everyone’s mind remains whether they will have a job in the future, and while Ellison nodded toward the changes to come, it was not possible to determine the extent of them.
“Bringing two companies of this size and complexity together will require difficult decisions. There will be changes and there will be impacts. I’m not going to pretend otherwise,” Ellison told staff. “What I can promise you is that we will make these decisions as quickly and thoughtfully as possible. We will communicate directly. We will tell you what we know when we know it. And we will not let a prolonged integration process distract us from why we brought these companies together in the first place: to build the next generation media and entertainment company.”
Gn entert
