Skydance Names Board, Shares Slip 3% in NYSE Debut

· Entertainment · United States

Skydance Corp., formed by the merger of Paramount and Warner Bros. Discovery, announced its new board of directors on Tuesday and began trading on the New York Stock Exchange. Laurene Powell Jobs, founder and president of Emerson Collective, and Bobby Kotick, founder and former Activision CEO, joined as independent directors, while former UK Prime Minister Tony Blair was named an adviser. Chairman and CEO David Ellison and co-CEO Ynon Kreiz lead the company. Shares opened under the ticker SKYD, replacing the PSKY symbol used for Paramount Global, and finished the day at $9.51, down 3% — a 15% pullback since the merger closed. At a town hall at the Warner lot's Steven J. Ross Theater, executives faced questions about looming layoffs and possible political interference. President Trump told reporters the Ellisons are "terrific people" and that it will be "a great company." George Cheeks, named Skydance TV co-chair and chief content officer, told staff in a memo that CBS "remains a cornerstone."

Why it matters：The completed merger creates a new Hollywood major, and its choice of directors, leadership structure and early share performance will shape the balance of power across studios, streaming and TV production for years.

Key points

  • Shares closed at $9.51 on the first day of NYSE trading under the ticker SKYD, down 3% and 15% since the merger closed.
  • New independent directors include Laurene Powell Jobs and former Activision CEO Bobby Kotick; Tony Blair joins as an adviser.
  • At a town hall, co-CEOs David Ellison and Ynon Kreiz were pressed on layoffs and potential political interference.

Sources (original reporting)

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