The merger is closing. Skydance, the new name for the Paramount-Warner Bros. Discovery combine, has finally unveiled its leadership team — and it’s not what anyone expected. The $110 billion deal, delayed by court battles and internal power plays, officially wraps up next week. But the real story isn’t the paperwork. It’s who’s in charge now, and what they’re promising to do with the world’s most sprawling entertainment library: Harry Potter, Mission: Impossible, Friends, Yellowstone, DC Comics, and more. All under one roof. One name. Skydance. 

David Ellison and Ynon Kreiz are co-CEOs. Ellison, the man behind Skydance’s $8.4 billion acquisition of Paramount, will focus on long-term strategy, creative vision, and talent. Kreiz, the former Mattel CEO and Endemol alumnus, takes day-to-day control, the engine room. Andy Gordon reports to both. 

And then there’s Casey Bloys. He’s not running HBO Max anymore. He’s stepping into a new role as co-chair and chief content officer of Skydance DTC. The direct-to-consumer arm. His move was telegraphed when Cindy Holland, head of Paramount+, stepped down. She said David Ellison was “optimizing for HBO stability.” That wasn’t a hint. It was a blueprint. 

George Cheeks gets Skydance TV. JB Perrette, from WBD, joins both TV and DTC as co-chair. Dana Goldberg and Josh Greenstein take over motion pictures. James Gunn and Peter Safran stay at DC Studios. Michael De Luca and Pamela Abdy? They’re out. Their last day is Tuesday. 

CNN gets Mark Thompson as chairman and editor-in-chief. CBS News? Bari Weiss is in. 

No one’s pretending this is just another merger. This is a rebranding of Hollywood itself. The company says it wants to be “the premier Hollywood content engine,” to “win in storytelling” and “lead in a crowded market.” It’s all about scale, IP, and streaming integration. 

But here’s the thing no one’s saying out loud: the old guard is gone. The new structure doesn’t just reflect the deal, it’s designed to erase the past. And while the names sound familiar, the power shift is clear. 

So what happens next? The first major test won’t be a movie or a show. It’ll be the bundling of HBO Max and Paramount+. Casey Bloys already hinted it’s more likely to be bundled than merged. That’s not a decision. It’s a signal. 

The next chapter starts Thursday morning.