Skydance Names Board for Paramount-Warner Bros. Discovery Combination, Adds Laurene Powell Jobs, Bobby Kotick and Tony Blair

PR Newswire··USGB·Read original
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Summary · why it matters

Skydance Corporation announced the director and advisor designees for the newly combined company formed through Paramount's merger with Warner Bros. Discovery, effective immediately. David Ellison will chair the Board and continue as Skydance's Chairman and Chief Executive Officer, and the Board will include all current members of Paramount's Board plus three new additions: Ynon Kreiz, Co-Chief Executive Officer of Skydance; Laurene Powell Jobs, founder and president of Emerson Collective; and Bobby Kotick, founder and former Chief Executive Officer of Activision. Powell Jobs and Kotick will join as Independent Directors, while former UK Prime Minister Tony Blair will serve as a Board Advisor in a personal capacity and is Executive Chairman of the Tony Blair Institute for Global Change. Kotick served as CEO of Activision for 32 years, a tenure that culminated in the sale of Activision Blizzard to Microsoft for $68.7 billion, the largest transaction in the history of the video game industry. Skydance, which trades on the NYSE under the symbol SKYD, is composed of three business segments — Studios, Direct-to-Consumer, and TV Media — and its portfolio unites brands including Paramount, Warner Bros., HBO, Paramount+, Pluto TV, CBS, CNN, CBS Sports, TNT Sports, Nickelodeon, Cartoon Network, MTV, Food Network, BET, HGTV, and Comedy Central.

Impact on assets 4

Communication Services▲
Paramount Skydance Corporation
PSKY
± Mixedrelevance

Paramount's board is folded into the combined company's board, but no standalone financial or operational impact on Paramount is stated.

Warner Bros Discovery Inc
WBD
± Mixedrelevance

Warner Bros. Discovery is merged into the new entity and its board composition is set, with no separate value driver described.

Artificial Intelligence▲
Others▲
Skydance Corporation
SKYD
± Mixedrelevance

Skydance announces the board and advisors for its post-merger combination, a governance/leadership event with no clear financial or operational driver.

Off-coverage companies 4

CBSi
Private± Mixedrelevance

CNNi
Private± Mixedrelevance

Emerson Collectivei
Private± Mixedrelevance

Pluto TVi
Private± Mixedrelevance