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Discovery accepted Paramount\u2018s acquisition proposal in February, then-Paramount CEO David Ellison pitched senior Warner executives on his $110 billion takeover of their company.\n\n\n\n\n\n\n\n\tSeven months later, at a town hall meeting held at the same location, the Steven J. Ross Theater on the Warner lot in Burbank, Ellison spoke to employees from both companies as CEO of their new corporate parent, Skydance Media. A lottery was involved in getting seats in the theater for staffers, with some Paramount executives braving morning traffic for the drive over the hill. The Tuesday event, which offered a preview of the logistical and strategic complications ahead, was also live-streamed.\n\n\t\n\n\n\t\t\t\n\t\t\tWatch on Deadline\t\t\n\t\n\t\t\n\t\n\n\n\n\n\n\tRELATED: A List Of Major Warner Bros. & Paramount Franchises, Film & TV Titles Coming Together At New Skydance\n\n\n\n\n\tOver an hour of prepared remarks and Q&A with CNN host Anderson Cooper, Ellison talked up his love of film, vowed to protect CNN against Donald Trump\u2019s attacks, and acknowledged the operatic merger process.\n\n\n\n\n\tEllison and Skydance co-CEO Ynon Kreiz were the only speakers during the event. They both stressed the importance of operating as one united company even though they have agreed to maintain two separate studio lots.\n\n\n\n\n\tThe deal\u2019s official close Tuesday \u201ccaps off a long-term plan that\u2019s three years in the making,\u201d Ellison said, alluding to the 2025 merger of Skydance and Paramount, which was quickly followed by the WBD quest.\n\n\n\n\n\tRELATED: Skydance Bumps Pay, Extends Contracts For Top Execs; New Bonuses For WBD Brass\n\n\n\n\n\t\u201cThe last time I was here, I talked about why I got into this business in the first place,\u201d he said. \u201cI love filmmaking. I love the combination of creativity, technology and sheer human ingenuity that goes into taking an idea and turning it into something that can move millions of people around the world.\u201d\n\n\n\n\n\tWhile Ellison didn\u2019t volunteer the word \u201clayoffs\u201d in his remarks, he seemed to be reading the room, gripped with anxiety over the inevitable cuts. With the company saddled with $80 billion in debt and promising to cut $6 billion in costs, thousands of workers are expected to be let go.\n\n\t\n\n\n\n\n\n\tRELATED: Skydance Shares Fall In New York Stock Exchange Debut Amid Debt Debate\n\n\n\n\n\t\u201cBringing together two companies of this size and complexity will require difficult decisions,\u201d Ellison said. \u201cThere will be changes, and there will be impacts. I\u2019m not going to pretend otherwise. What I can promise you is that we will move through those decisions as quickly and thoughtfully as we can. We will communicate directly. We will tell you what we know when we know it. And we will not allow a prolonged integration process to distract us from the reason we brought these companies together in the first place: which is to build the next generation media and entertainment company.\u201d\n\n\n\n\n\tPressed on the topic by Cooper, the execs declined to offer projections or percentages, reiterating messages from the staff memo they sent earlier in the day and telling the crowd, \u201cYou can\u2019t cut your way to growth.\u201d\n\n\n\n\n\tCNN will continue to have \u201ccomplete editorial independence,\u201d Ellison told Cooper, adding that he would shield the network from Trump\u2019s interference and criticism.\n\n\n\n\n\tRELATED: Skydance Credit Rating Cut By Fitch Citing Heavy Debt Load, Integration, Execution Risk\n\n\n\n\n\tDespite his family\u2019s closeness to Trump and the MAGA White House, Ellison told Cooper Tuesday that he supported CNN\u2019s efforts to fight the president\u2019s ban of the outlet from the Executive Mansion and exclude it from other coverage.\n\n\n\n\n\tAsked by reporters in Washington about the deal\u2019s completion, Trump said Skydance is \u201cgoing to be a great company,\u201d according to a White House pool report. \u201cThey\u2019re terrific people.\u201d\n\n\n\n\n\tCooper was universally praised by attendees for doing \u201ca good job\u201d asking \u201ctough questions.\u201d Reaction to the responses from Ellison and Kreiz was mixed, with some commending them for tackling difficult topics while others were underwhelmed by their \u201cvague non-answers.\u201d\n\n\n\n\n\tRELATED: Warner Bros. Water Tower Repainted To Add \u201cA Skydance Corporation\u201d Following Merger Close\n\n\n\n\n\tThe mega-deal sailed through regulatory approval before hitting a major legal snag in July. Twelve states filed an antitrust lawsuit seeking to block the deal, with the WGA bringing a similar suit. Both were eventually settled after tense negotiations.\n\n\n\n\n\t\u201cIt wasn\u2019t easy to get here,\u201d Ellison told employees. \u201cAt times, it was downright ugly. And at nearly every turn, someone told us it couldn\u2019t be done. And here we are.\u201d\n\n\n\n\n\tApplause and occasional laughter punctuated the prepared remarks. When Ellison introduced 14 members of the new company\u2019s executive leadership team, the crowd let out whoops when he mentioned Makan Delrahim, Chief Legal Officer and President, Global Corporate Affairs. \u201cNone of us would be here if it weren\u2019t for Makan,\u201d Ellison said of the former head of the U.S. Department of Justice antitrust division.\n\n\n\n\n\tRELATED: Donald Trump Weighs In On New Skydance: \u201cThey\u2019re Terrific People, And It\u2019s Going To Be A Great Company\u201d\n\n\n\n\n\tOverall, there was \u201ca muted, polite response and applause to moments in Ellison\u2019s remarks as people are dubious and skeptical,\u201d one person said, while another felt that there was \u201chopeful enthusiasm in the room.\u201d\n\n\n\n\n\tEllison shared the microphone with Kreiz, the former Mattel CEO who was named Co-CEO of Skydance last week. He called the newly merged entity \u201cone of the most exciting companies in the world,\u201d insisting that he didn\u2019t mean that \u201chyperbolically.\u201d\n\n\n\n\n\tHe reiterated some of the themes of the memo he and Ellison sent employees earlier in the day, repeatedly emphasizing the importance of unity among employees from the merging companies.\n\n\t\n\n\n\n\n\n\tRELATED: Trump Celebrity Supporters: Famous Folks In Favor Of The 47th President\n\n\n\n\n\t\u201cThe industry is at an inflection point, and we have the assets, the brands, the capabilities, the global reach, and most importantly, the people, to be a driver of growth and innovation and rethink business models,\u201d Kreiz said. \u201cOur mission is to build the next-generation global media and entertainment company powered by creativity and technology.\u201d\n\n\n\n\n\tDespite Ellison\u2019s origins as an actor in films like Flyboys, one employee who viewed the livestream of the town hall said he came across as less polished than Kreiz. That impression would hardly be a surprise, as the 61-year-old Kreiz has been CEO of multiple companies, including a stint at Mattel where he spoke often at investor conferences, on earnings calls and the like.\n\n\n\n\n\tBoth Ellison and Kreiz said \u201cwhat they needed to say\u201d but their battle for the hearts and minds of weary WBD staffers, who have been through a string of failed acquisitions, may be only now beginning. \n\n\n\n\n\t\u201cNo one really trusts their word,\u201d one person said. \n\n\n\n\n\tRELATED: Skydance Sets Board With Laurene Powell Jobs, Bobby Kotick New Directors, Tony Blair As Advisor" ], "output": "readability", "pwd": "/data/archive/1791476116.865291", "schema": "ArchiveResult", "start_ts": "2026-10-08T19:20:37.040169+00:00", "status": "succeeded" }, { "cmd": [ "/app/node_modules/readability-extractor/readability-extractor", "/tmp/tmp80moywhp", "https://deadline.com/2026/10/skydance-merger-town-hall-donald-trump-layoffs-1237148139/" ], "cmd_version": "0.0.11", "end_ts": "2026-10-08T19:23:05.847978+00:00", "index_texts": [ "Soon after Warner Bros. Discovery accepted Paramount\u2018s acquisition proposal in February, then-Paramount CEO David Ellison pitched senior Warner executives on his $110 billion takeover of their company.\n\n\n\n\n\n\n\n\tSeven months later, at a town hall meeting held at the same location, the Steven J. Ross Theater on the Warner lot in Burbank, Ellison spoke to employees from both companies as CEO of their new corporate parent, Skydance Media. A lottery was involved in getting seats in the theater for staffers, with some Paramount executives braving morning traffic for the drive over the hill. The Tuesday event, which offered a preview of the logistical and strategic complications ahead, was also live-streamed.\n\n\t\n\n\n\t\t\t\n\t\t\tWatch on Deadline\t\t\n\t\n\t\t\n\t\n\n\n\n\n\n\tRELATED: A List Of Major Warner Bros. & Paramount Franchises, Film & TV Titles Coming Together At New Skydance\n\n\n\n\n\tOver an hour of prepared remarks and Q&A with CNN host Anderson Cooper, Ellison talked up his love of film, vowed to protect CNN against Donald Trump\u2019s attacks, and acknowledged the operatic merger process.\n\n\n\n\n\tEllison and Skydance co-CEO Ynon Kreiz were the only speakers during the event. They both stressed the importance of operating as one united company even though they have agreed to maintain two separate studio lots.\n\n\n\n\n\tThe deal\u2019s official close Tuesday \u201ccaps off a long-term plan that\u2019s three years in the making,\u201d Ellison said, alluding to the 2025 merger of Skydance and Paramount, which was quickly followed by the WBD quest.\n\n\n\n\n\tRELATED: Skydance Bumps Pay, Extends Contracts For Top Execs; New Bonuses For WBD Brass\n\n\n\n\n\t\u201cThe last time I was here, I talked about why I got into this business in the first place,\u201d he said. \u201cI love filmmaking. I love the combination of creativity, technology and sheer human ingenuity that goes into taking an idea and turning it into something that can move millions of people around the world.\u201d\n\n\n\n\n\tWhile Ellison didn\u2019t volunteer the word \u201clayoffs\u201d in his remarks, he seemed to be reading the room, gripped with anxiety over the inevitable cuts. With the company saddled with $80 billion in debt and promising to cut $6 billion in costs, thousands of workers are expected to be let go.\n\n\t\n\n\n\n\n\n\tRELATED: Skydance Shares Fall In New York Stock Exchange Debut Amid Debt Debate\n\n\n\n\n\t\u201cBringing together two companies of this size and complexity will require difficult decisions,\u201d Ellison said. \u201cThere will be changes, and there will be impacts. I\u2019m not going to pretend otherwise. What I can promise you is that we will move through those decisions as quickly and thoughtfully as we can. We will communicate directly. We will tell you what we know when we know it. And we will not allow a prolonged integration process to distract us from the reason we brought these companies together in the first place: which is to build the next generation media and entertainment company.\u201d\n\n\n\n\n\tPressed on the topic by Cooper, the execs declined to offer projections or percentages, reiterating messages from the staff memo they sent earlier in the day and telling the crowd, \u201cYou can\u2019t cut your way to growth.\u201d\n\n\n\n\n\tCNN will continue to have \u201ccomplete editorial independence,\u201d Ellison told Cooper, adding that he would shield the network from Trump\u2019s interference and criticism.\n\n\n\n\n\tRELATED: Skydance Credit Rating Cut By Fitch Citing Heavy Debt Load, Integration, Execution Risk\n\n\n\n\n\tDespite his family\u2019s closeness to Trump and the MAGA White House, Ellison told Cooper Tuesday that he supported CNN\u2019s efforts to fight the president\u2019s ban of the outlet from the Executive Mansion and exclude it from other coverage.\n\n\n\n\n\tAsked by reporters in Washington about the deal\u2019s completion, Trump said Skydance is \u201cgoing to be a great company,\u201d according to a White House pool report. \u201cThey\u2019re terrific people.\u201d\n\n\n\n\n\tCooper was universally praised by attendees for doing \u201ca good job\u201d asking \u201ctough questions.\u201d Reaction to the responses from Ellison and Kreiz was mixed, with some commending them for tackling difficult topics while others were underwhelmed by their \u201cvague non-answers.\u201d\n\n\n\n\n\tRELATED: Warner Bros. Water Tower Repainted To Add \u201cA Skydance Corporation\u201d Following Merger Close\n\n\n\n\n\tThe mega-deal sailed through regulatory approval before hitting a major legal snag in July. Twelve states filed an antitrust lawsuit seeking to block the deal, with the WGA bringing a similar suit. Both were eventually settled after tense negotiations.\n\n\n\n\n\t\u201cIt wasn\u2019t easy to get here,\u201d Ellison told employees. \u201cAt times, it was downright ugly. And at nearly every turn, someone told us it couldn\u2019t be done. And here we are.\u201d\n\n\n\n\n\tApplause and occasional laughter punctuated the prepared remarks. When Ellison introduced 14 members of the new company\u2019s executive leadership team, the crowd let out whoops when he mentioned Makan Delrahim, Chief Legal Officer and President, Global Corporate Affairs. \u201cNone of us would be here if it weren\u2019t for Makan,\u201d Ellison said of the former head of the U.S. Department of Justice antitrust division.\n\n\n\n\n\tRELATED: Donald Trump Weighs In On New Skydance: \u201cThey\u2019re Terrific People, And It\u2019s Going To Be A Great Company\u201d\n\n\n\n\n\tOverall, there was \u201ca muted, polite response and applause to moments in Ellison\u2019s remarks as people are dubious and skeptical,\u201d one person said, while another felt that there was \u201chopeful enthusiasm in the room.\u201d\n\n\n\n\n\tEllison shared the microphone with Kreiz, the former Mattel CEO who was named Co-CEO of Skydance last week. He called the newly merged entity \u201cone of the most exciting companies in the world,\u201d insisting that he didn\u2019t mean that \u201chyperbolically.\u201d\n\n\n\n\n\tHe reiterated some of the themes of the memo he and Ellison sent employees earlier in the day, repeatedly emphasizing the importance of unity among employees from the merging companies.\n\n\t\n\n\n\n\n\n\tRELATED: Trump Celebrity Supporters: Famous Folks In Favor Of The 47th President\n\n\n\n\n\t\u201cThe industry is at an inflection point, and we have the assets, the brands, the capabilities, the global reach, and most importantly, the people, to be a driver of growth and innovation and rethink business models,\u201d Kreiz said. \u201cOur mission is to build the next-generation global media and entertainment company powered by creativity and technology.\u201d\n\n\n\n\n\tDespite Ellison\u2019s origins as an actor in films like Flyboys, one employee who viewed the livestream of the town hall said he came across as less polished than Kreiz. 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