Skydance Media Announces Paramount Board with Renowned Leaders

Skydance Media has announced the full slate of director designees for Paramount Skydance Corporation, including David Ellison as Chairman of the Board. The new board consists of 10 directors, including three independent directors, with a preeminent group of leaders from the media, technology, and finance sectors. The directors bring unmatched expertise and valuable perspective on the complex intersection of geopolitics, economics, and global business strategy to help build Paramount into a next-generation media company.

Title: Skydance Media Announces Board for Paramount Skydance Corporation

Skydance Media has announced the full slate of director designees for Paramount Skydance Corporation, with David Ellison serving as the Chairman of the Board. The newly constituted board comprises 10 directors, including three independent directors, and features a diverse group of leaders from the media, technology, and finance sectors. This group brings unmatched expertise and valuable perspectives to help build Paramount into a next-generation media company.

The new board includes prominent figures such as David Ellison, future Chairman and CEO of Paramount Skydance, Oracle CEO Safra Catz, and RedBird Capital Partners founder Gerry Cardinale. The independent directors include Barbara Byrne, Justin G. Hamill, and Sherry Lansing. The board is designed to reflect the interests of the largest shareholders and will play a critical role in guiding the company's future direction.

The merger between Skydance Media and Paramount Global is expected to close on August 7, 2025, with the new board taking effect immediately upon completion of the transaction. The current Paramount Global directors, including Shari Redstone, will step down upon the close of the combination.

The appointment of David Ellison as Chairman and CEO underscores the Ellison family's significant influence in the new entity. The Ellison family will have 100% voting control over Paramount Skydance, with nonvoting shares trading under the symbol "PSKY." The deal was largely bankrolled by Oracle founder Larry Ellison.

The new board represents a power-sharing arrangement, with the Ellison family and RedBird Capital Partners having five designates on the board. The private equity firm will have two representatives, and two executives with RedBird ties will take board seats. The inclusion of independent directors such as Barbara Byrne, Justin G. Hamill, and Sherry Lansing ensures a balanced perspective.

The merger is expected to inject $1.5 billion into Paramount's balance sheet to help the firm pay down debt. More than $4 billion was set aside to buy back shares of current Paramount shareholders. Santa Monica-based Skydance will eventually be folded into Paramount.

The Federal Communications Commission (FCC) approved the Skydance-Paramount merger two weeks ago, removing the last hurdle and allowing the deal to move forward. The FCC's approval came after Paramount agreed to pay President Trump $16 million to settle the president's lawsuit over edits to a "60 Minutes" broadcast.

The new board's composition reflects a strategic alignment between the Ellison family, RedBird Capital Partners, and Oracle, indicating a strong commitment to building long-term value for all stakeholders.

References:
1. [https://www.latimes.com/entertainment-arts/business/story/2025-08-05/paramount-skydance-board-to-include-david-ellison-sherry-lansing-and-redbirds-gerry-cardinale](https://www.latimes.com/entertainment-arts/business/story/2025-08-05/paramount-skydance-board-to-include-david-ellison-sherry-lansing-and-redbirds-gerry-cardinale)
2. [https://variety.com/2025/tv/news/paramount-skydance-board-david-ellison-sherry-lansing-safra-catz-1236478536/](https://variety.com/2025/tv/news/paramount-skydance-board-david-ellison-sherry-lansing-safra-catz-1236478536/)
3. [https://www.nasdaq.com/articles/skydance-unveils-board-slate-merged-paramount-skydance-corporation](https://www.nasdaq.com/articles/skydance-unveils-board-slate-merged-paramount-skydance-corporation)