David Ellison Tells Warner Bros. Staff: 'Today Is Day 1'

The Hollywood Reporter reports that David Ellison gathered staff in the Steven J. Ross Theatre on the Warner Bros. lot in Burbank Tuesday for his first all-hands as their new owner. His message: "Today is Day 1. We have a long runway ahead of us, and we have a tremendous amount of work to do."

Ellison said the road to buying the studio was long and hard, and he predicted some pain ahead. His larger point was about scale: he wants a company that can challenge the biggest names in the attention economy.

"When we set out to acquire Paramount, we did so with an even larger ambition," he said in remarks shared with The Hollywood Reporter. "We believed then, and we believe even more strongly today, that this industry needs another company with the scale, resources, technology and creative firepower to go toe-to-toe with the biggest players in the world."

The competition, he said, is no longer just other media companies. It is the biggest technology companies, all fighting for people's time and attention.

The Hollywood Reporter says Ynon Kreiz is the executive widely expected to make the cost and job decisions. Kreiz outlined the practical goals: make Skydance the top content engine in Hollywood, accelerate the direct-to-consumer platform and keep the linear TV business profitable, with CBS as the anchor.

"To win, we have to be innovative," Kreiz told the room. "Innovation can be anywhere."

Ellison introduced his leadership team, including Andy Gordon, Dennis Cinelli, Casey Bloys, George Cheeks, Dana Goldberg and Josh Greenstein. He gave a nod to Gerry Cardinale of RedBird.

The new ownership was visible outside, too. Workers were repainting the Warner Bros. water tower and added the words "a Skydance Corporation" under the logo.

Anderson Cooper interviewed Ellison and Kreiz afterward. Ellison said CNN chief Mark Thompson has his full confidence, and he backs the network's editorial independence. He also supports CNN's push for full White House access. The White House has restricted CNN's access, and the move has sparked a lawsuit.

For viewers, the practical takeaway is simple. Warner Bros. is now part of a larger company built to take on tech platforms, and cost and job decisions are coming. The long runway Ellison promised starts today.

• CBS
• David Ellison
• Paramount+
• Skydance
• Warner Bros.
• Ynon Kreiz