Skydance names finance chiefs as combined firm faces $80 billion debt load

Dennis Cinelli, the chief financial officer of Skydance, revealed the executive team responsible for the company’s financial operations in a memo sent to staff on Wednesday. The announcement comes as the newly merged entity, formed from the combination of Paramount and Warner Bros. Discovery, prepares to manage a pro-forma annual revenue of nearly $70 billion. The company also carries approximately $80 billion in net debt, a figure that places significant pressure on the finance group to deliver on cost-saving targets.

The new structure is central to a plan aimed at achieving $6 billion in annualized cost savings. This initiative is expected to involve multiple rounds of layoffs. Cinelli stated in the memo that the new arrangement reflects the strengths of both legacy organizations and places the right leaders in the right roles. He specifically praised the former Warner Bros. Discovery finance team for maintaining business performance during a prolonged period of uncertainty regarding the merger's outcome.

Kevin Creighton, previously the executive vice president of Corporate Finance and Treasury at Paramount Skydance, will lead an expanded organization. His scope includes corporate finance, treasury, strategic finance, and content finance. He will also serve as the interim head of investor relations while the company searches for a permanent replacement. Fraser Woodford, the former executive vice president of Treasury at Warner Bros. Discovery, will remain until the end of March 2027 to facilitate the transition and assist in finding his successor.

Other key appointments include Todd Davis as head of global tax, Kathy Gill-Charest as controller and chief accounting officer, and Sandy Pundmann as chief audit risk officer. Simon Robinson will serve as chief business transformation officer and will lead the Integration Management Office. This office is tasked with coordinating the operational merger of the two companies. On the corporate side, Bryon Rubin is stepping down as CFO of TV Media to become the COO of Skydance Television.

Business unit chiefs will report directly to Cinelli as well as their respective unit heads. Mark Badagliacca will oversee film, while Patrick Cavanaugh will manage distribution. Nitin Chawla will lead global content sales, and Adam Cohn will head CNN. Eric Gray will oversee TV studios, and Christine Hong will manage advertising and revenue operations. Kedar Nadkarni will lead consumer products, publishing, and DC Comics, while Ben Paul will head games and experiences. Josh Walker will manage streaming operations, and Liz Wright will lead the television segment.

Cinelli outlined six core pillars for the finance organization in his memo. These include ensuring accurate and fast financial closes, setting plans that drive accountability, and partnering closely with business leaders. The team will also focus on using data and AI for decision-making, communicating financial results to stakeholders, and developing future company leaders. Cinelli expressed confidence in the team’s ability to meet the challenges of integration, noting that the goal is to build a next-generation media and entertainment company.