Overview

• When the merger closes on August 7, David Ellison will become chairman and CEO of Paramount Skydance Corp and former NBCUniversal chief Jeff Shell will serve as president overseeing television operations.
• A 10-member board has been confirmed, comprising five designees from the Ellison family and RedBird alongside independent directors including Sherry Lansing, Barbara Byrne and Justin G. Hamill.
• Mike Ireland is departing as president of the Paramount Motion Picture Group and will remain on in a consulting role to support the transition.
• Skydance and RedBird have pledged to find $2 billion in cost savings at Paramount, signalling further steep rounds of layoffs across the company.
• The new three-segment model assigns films and the revived Paramount Television Studios to co-chairs Dana Goldberg and Josh Greenstein with Matt Thunell heading TV Studios, streaming networks to Cindy Holland, and CBS and cable channels to George Cheeks.