Skydance Distribution Shakeup: Eight Executives Exit After Merger

Eight executives are leaving Skydance following a restructuring of its television and streaming distribution leadership. The departures affect the unit that negotiates content deals with pay-TV operators, device platforms, and other partners. The changes were detailed in an internal memo sent by Ray Hopkins, president of distribution, on Nov. 3.

Skydance emerged from the merger of David Ellison's Paramount Skydance and Warner Bros. Discovery, a deal that closed on Oct. 6. Hopkins appointed Sarah Bergman and Mickey Carter as co-EVPs of distribution. Bergman, an HBO veteran, previously served as Warner Bros. Discovery's EVP of networks and streaming distribution. Carter formerly held the title of EVP of distribution at Paramount. The two will share responsibility for managing partnerships and negotiating distribution agreements.

The distribution team oversees deals for CBS owned-and-operated stations, 55 basic cable networks, and streaming services including Paramount+, HBO Max, Discovery+, and Pluto TV. The team also manages more than 100 FAST channels. Hopkins named Brad Shipley, EVP of business development and strategy, to oversee new growth partnerships, Pluto TV, FAST distribution, and advanced advertising. Shipley will also serve as the distribution lead for the Skydance Global Sports Group.

Patrick Cavanaugh, EVP and CFO of distribution finance, will lead economics for all linear and streaming negotiations. Rick Baker, EVP and deputy general counsel for distribution, business and legal affairs, will oversee legal matters across the division. With Baker's new role, Jeff Cross, formerly WBD's EVP of legal, distribution and commercial partnerships, is leaving the company but will remain a senior adviser.

Other exits include Rivka Golomb, Kelly Kane, Rich Palermo, David Comisar, Kurt Davis, Deena Demasi, and Ken Kay. Joe Bahr, SVP of partner operations, will manage operational issues across partners, while Andrew Borak, SVP of marketing, will lead the combined distribution marketing function. Bob Aguanno, SVP of CBS affiliate relations, will manage relationships with roughly 200 CBS affiliate TV stations. John Bagwell, SVP and associate general counsel, will negotiate contracts with station groups and the affiliate board.

Hopkins reports to JB Perrette, co-chair and chief business officer of Skydance TV and Skydance Direct-to-Consumer. Scott Miller, previously WBD's president of networks and streaming distribution, exited when Hopkins was appointed. The restructuring occurs as Skydance targets $6 billion in annualized cost savings from the merger. Mass layoffs are expected before the end of the year, and certain eligible employees are being offered voluntary buyouts, according to a Nov. 26 companywide memo from Ellison and co-CEO Ynon Kreiz.

The changes to the distribution team were first reported by Reuters. The new leadership structure aims to streamline operations across the combined assets of Paramount and Warner Bros. Discovery.