Skydance Finance Team Prepares for $80 Billion Debt Reduction

Skydance Corp. has named the executive team responsible for managing the finances of its newly formed media conglomerate. The appointments were announced in a memo to staff on Wednesday by Chief Financial Officer Dennis Cinelli. The new structure is designed to oversee a combined business that expects to generate approximately $70 billion in annual revenue on a pro-forma basis.

The financial stakes for the leadership group are high. The company carries net debt of around $80 billion following the merger of Paramount and Warner Bros. Discovery. Management aims to reach $6 billion in annualized cost savings. This target is expected to drive several rounds of layoffs across the organization. The finance department will play a central role in executing these cuts to service the debt load.

David Ellison and Ynon Kreiz, the co-CEOs of Skydance, had previously announced the senior leadership team one day before the deal officially closed. Since that initial announcement, various corporate groups and business units have revealed their own executive lineups. Cinelli stated in the memo that the new structure reflects the strengths of both former organizations and places the right leaders in key positions.

On the corporate side, Kevin Creighton, the Executive Vice President of Corporate Finance and Treasury, will lead an expanded organization. His scope includes corporate finance, treasury, strategic finance, financial planning and analysis, and content finance and strategy. Creighton will also serve as the interim head of investor relations while the company searches for a permanent executive for that role.

Fraser Woodford, the Executive Vice President of Treasury at Warner Bros. Discovery, will remain in his position through the end of March 2027. He is tasked with transitioning work and assisting in the search for his successor. Other corporate appointments include Todd Davis as global tax leader, Kathy Gill-Charest as controller and chief accounting officer, and Sandy Pundmann as chief audit risk officer. Simon Robinson will head the Integration Management Office as chief business transformation officer, coordinating the combination of the two businesses.

Business unit Chief Financial Officers will report to both Cinelli and their respective unit heads. Mark Badagliacca will lead film, while Patrick Cavanaugh will oversee distribution. Nitin Chawla will manage global content sales, and Adam Cohn will lead CNN. Eric Gray will head TV studios, and Christine Hong will oversee advertising and revenue operations. Kedar Nadkarni will lead consumer products, publishing, and DC comics, and Ben Paul will manage games and experiences.

Josh Walker will serve as the CFO for streaming, and Liz Wright will lead the television segment. Bryon Rubin is leaving his post as CFO of TV Media to become the Chief Operating Officer of Skydance Television. These appointments ensure that each major division has dedicated financial leadership aligned with the corporate strategy.

Cinelli outlined six pillars to guide the finance organization. These include getting the basics right with fast and accurate closes, setting plans that drive accountability, and partnering closely with business leaders. The group will also focus on deciding with data and AI, telling the financial story to stakeholders, and building a talent factory for future leaders. He acknowledged that challenges remain as the businesses integrate, but expressed confidence in the team's ability to raise the bar.