Skydance CEO David Ellison Outlines 4 Goals For Merger Success, Company Targets $2B In First-Year Synergies
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In an interview with CNBC, Ellison said the combined company would invest more in content than its peers while pursuing cost savings and debt reduction.He added that HBO Max and Paramount+ were complementary services, noting that their combination would create a streaming business with more than 200 million global subscribers.The CEO also stated Skydance plans to release 34 films next year, with the slate also intended to drive streaming engagement through a steady pipeline of theatrical releases.David Ellison, CEO of the newly formed Skydance (SKYD), outlined four goals on Thursday that he believes would determine the success of the merger between Paramount and Warner Bros. Discovery."We need to grow the top line by mid-single digits. We need to grow our speed in pushing our streaming businesses together. We need to grow and scale our studio business, our D2C business. We need to execute on our platform and technological transformation of the company," Ellison said in an interview with CNBC. "And I believe if we do all of that, we'll be in really good shape."Skydance co-CEO Ynon Kreiz added that Skydance expects to meet a third of its synergy target of $6 billion in the first year. "We are positioned to win in every single vertical that we operate in," said Ellison. SKYD stock outperformed the broader market drawdown, rising 1.5% in morning trade. On Stocktwits, retail...
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