Skydance co-CEOs Ellison and Kreiz speak with CNBC days after finalizing WBD acquisition

Skydance co-CEOs David Ellison and Ynon Kreiz are joining CNBC's David Faber on Thursday, days after Paramount's acquisition of Warner Bros. Discovery officially closed.

The combined company includes film studios Paramount and Warner Bros.; the CBS broadcast network; a sprawling pay TV portfolio that includes CNN, TNT, MTV and BET; and streaming services Paramount+ and HBO Max.

Tune in at 8:30 a.m. ET as Skydance co-CEOs David Ellison and Ynon Kreiz join CNBC TV. Watch in real time on CNBC+ or the CNBC Pro stream.

Ellison and Kreiz plan to split executive duties, with Ellison focusing on the company's creative vision, technological innovations and long-term strategy while Kreiz leads the integration of the two companies and handles day-to-day management and operations.

Kreiz is a 30-year veteran of the media space with a reputation as a turnaround man. Ellison, who is also Skydance chairman, has spent more than 15 years as an on-set producer and has said he's looking to position Skydance as a creative hub for filmmakers.

The executives will have a tall task at the helm of a media behemoth: As part of a settlement with a group of state attorneys general who sued to block the acquisition over antitrust concerns, Skydance has agreed to release at least 30 films into theaters annually in 2027 and 2028 and at least 32 films annually in 2028, 2030 and 2031.

Currently, the combined entity has 35 films scheduled for release next year, according to data from Rentrak.

Ellison has also said he plans to merge the Paramount+ and HBO Max streaming services.

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