Merged Media Firm Names Finance Chiefs Amid $80 Billion Debt

The combined media entity formed by the merger of Paramount and Warner Bros. Discovery has finalized its corporate finance leadership. Chief Financial Officer Dennis Cinelli announced the new team in a memo to employees on Wednesday morning.

The company is projected to generate approximately $70 billion in annual revenue on a pro-forma basis. It enters the post-merger period with net debt of around $80 billion. Management plans to achieve $6 billion in annualized cost savings, a target that will likely require multiple rounds of workforce reductions.

Co-CEO David Ellison and co-CEO Ynon Kreiz previously named the senior leadership group one day before the deal officially closed. Since that initial announcement, various business units and corporate departments have revealed their own executive rosters.

Kevin Creighton, currently the executive vice president of Corporate Finance and Treasury, will lead an expanded organization. His scope includes strategic finance, financial planning and analysis, and content finance strategy. Creighton will also serve as interim head of investor relations until a permanent successor is found. Fraser Woodford, the current executive vice president of Treasury at Warner Bros. Discovery, will remain through March 2027 to assist with the transition.

Todd Davis will oversee global tax operations. Kathy Gill-Charest will serve as controller and chief accounting officer. Sandy Pundmann will act as chief audit risk officer. Simon Robinson will head the Integration Management Office as chief business transformation officer, coordinating the structural combination of the two former companies.

Business unit chief financial officers will report to both Cinelli and their respective division heads. The roster includes Mark Badagliacca for film, Patrick Cavanaugh for distribution, and Nitin Chawla for global content sales. Adam Cohn will lead finances for CNN, while Eric Gray will oversee TV studios. Christine Hong will manage advertising and revenue operations. Kedar Nadkarni will handle consumer products, publishing, and DC comics. Ben Paul will lead games and experiences, Josh Walker will head streaming, and Liz Wright will manage the television segment. Bryon Rubin is moving from his role as CFO of TV Media to become chief operating officer of Skydance Television.

Cinelli outlined six operational pillars for the finance group. These include ensuring fast and accurate financial closes, setting plans that drive accountability, and partnering closely with business leaders. The team will also focus on data-driven decision-making, communicating financial narratives to stakeholders, and developing future company leaders. In the memo, Cinelli thanked staff for their effort during the acquisition process and praised the legacy Warner Bros. Discovery finance team for maintaining performance during the transition. He stated that the new structure reflects the strengths of both organizations and places the right leaders in the right roles.

The company aims to become a next-generation media and entertainment firm, a goal that requires high-level financial operations. Cinelli noted that while integration challenges exist, he has confidence in the newly appointed team. He emphasized that the methods used to execute business strategies are as important as the results themselves.