Paramount is developing a movie adaptation of CD Projekt Red's acclaimed sci-fi RPG 'Cyberpunk 2077,' with producer Lorenzo di Bonaventura attached and the game's developer also serving as producer. The film will adapt the game's Night City setting and protagonist V's story, capitalizing on the recent success of video game-to-film adaptations.
David Zaslav received a $606 million payout upon leaving Warner Bros. Discovery as CEO following its acquisition by Paramount in a deal led by David Ellison. The package includes stock options and restricted stock units, though some options became worthless post-merger. Several other WBD executives also received substantial payouts from the October 6 closing.
Paramount and Warner Bros. Discovery merged to form Skydance, which began trading after closing with $79 billion in debt. CEO David Ellison awarded himself a $150 million bonus and gave executives massive raises while implementing mass layoffs, eroding employee morale and Wall Street confidence. The combined company is now considered too big to fail for Hollywood's ecosystem, but faces significant challenges in profitability.
Paramount and Warner Bros. Discovery will merge under the name Skydance, led by David Ellison as chairman and CEO. The deal closes October 6 and combines major studios, streaming services HBO Max and Paramount+, and TV networks including CBS and CNN, along with franchises like Harry Potter, DC Universe, and Mission: Impossible.
Paramount CEO David Ellison intends to retain Mark Thompson as CNN's leader following the Warner Bros Discovery merger, settling uncertainty about the network's future leadership. Thompson, who joined CNN in 2023, has overseen digital integration and launched CNN's All Access streaming service while the network has aggressively covered the Trump administration and defended its journalists against presidential attacks.
Gerry Cardinale, architect of Paramount's $110 billion merger with Warner Bros. Discovery, stated that most of the promised $6 billion in cost savings will come from non-labor expenses like technology consolidation and real estate optimization, not mass layoffs. He also praised CEO David Ellison as a talented leader focused on transforming Hollywood into a technology-driven industry to compete with Silicon Valley.
Paramount and Skydance are in early-stage discussions with CNN Chief Mark Thompson about keeping him in his leadership role as the company acquires Warner Bros. Discovery, signaling the company may initially keep CBS News and CNN separate. Thompson has expressed enthusiasm about staying and has prioritized growing CNN's digital and younger audience reach during his tenure.
Ynon Kreiz will serve as Co-CEO of the merged Paramount-Warner Bros. Discovery alongside David Ellison, starting October 5, 2025, with a first-year compensation package exceeding $46.5 million including a $31.5 million signing bonus. This represents a significant increase from his $15.1 million annual compensation as Mattel CEO, with his base salary at the new company set at $5 million plus eligibility for substantial bonuses and equity awards.