Paramount’s Ellison sets studio leadership ahead of Warner Bros. deal - Bloomberg

David Ellison, CEO of Paramount Skydance Corp, is set to implement a major reshuffle in Warner Bros. Pictures leadership prior to the completion of the $110 billion merger with Warner Bros. Discovery Inc., according to Bloomberg. Dana Goldberg and Josh Greenstein, leaders at Paramount Pictures, will oversee Warner Bros. Pictures once the acquisition concludes.

This move signifies a substantial consolidation of management within the newly formed entity, which will be rebranded as Skydance Corp. The shift also marks the conclusion of Michael De Luca and Pamela Abdy's leadership at Warner Bros., despite their recent contract renewal in October following initial turnaround initiatives at the studio.

Ellison has expressed his ongoing dedication to DC Studios, participating in high-level strategy discussions with James Gunn and Peter Safran on Thursday. Both Gunn and Safran, who are currently leading a 10-year strategic plan to rejuvenate the comic-book division, will continue in their roles under existing contracts that extend until April 2027.

Management's emphasis on the DC franchise was evident when Ellison, along with CFO Dennis Cinelli and CSO Andy Gordon, visited DC’s set in Atlanta to discuss the long-term content strategy. This visit provided DC leadership with official support from Ellison and reinforced the company's commitment to DC Studios as a key growth engine, aiming for 30 theatrical releases annually.

The leadership restructuring comes amid contrasting box-office results for the two studios—Paramount has seen significant success with films like Scream 7, Scary Movie, and Paw Patrol: The Dino Movie, while Warner Bros. has encountered challenges with recent releases like The End of Oak Street and The Bride! failing to turn a profit.

Profitability and slate selection optimization will be key areas of focus as the merged entity prepares for operation.