Paramount Skydance Warner Bros Discovery Merger to Close October 6 Paramount Skydance will finalize its merger with Warner Bros Discovery on October 6, creating a media giant named Skydance. The deal raises questions about Bari Weiss role at CBS News and Warner Bros leadership changes. Paramount Skydance is set to finalize its merger with Warner Bros Discovery next week, with the closing date marked as October 6. The combined media giant will be named Skydance, according to an announcement on Friday. The deal places both Warner Bros and Paramount under Skydance leadership and was cleared after major hurdles, including a lawsuit from a group of state attorneys general last month. Warner Bros co-CEOs Michael De Luca and Pamela Abdy are expected to exit the company once the merger is complete. The co-CEOs will not be part of the management team at Skydance, though it remains unclear if they will stay on temporarily during the transition.Paramount Film Heads Step InTheir contracts were renewed at Warner Bros just a year ago. Paramount film heads Dana Goldberg and Josh Greenstein are set to step in and oversee both movie studios. Under the proposed agreement, Paramount and Warner Bros must release 30 movies a year combined.However, it is unclear how that total will be divided between the two studios or what the final release schedule will look like. Skydance has named former Mattel CEO Ynon Kreiz as co-CEO. HBO boss Casey Bloys is expected to be named as the streaming chief, overseeing HBO Max and Paramount+. Bari Weiss fate is up in the air as CBS News parent Paramount Skydance prepares to finalize the merger.The company is mulling possible changes to Weiss role as CBS News editor-in-chief once the deal is completed. Those could include tightening her focus on editorial matters versus the corporate managerial responsibilities she was given last year, including the hiring and firing of top talent. At the same time, insiders said Weiss could make editorial contributions to CNN, which Paramount is acquiring as part of the merger. CNN CEO Mark Thompson is reportedly in talks for a role.One insider speculated that Weiss could end up reporting to George Cheeks, currently the chair of TV media at Paramount. That would upset the current arrangement in which Weiss directly reports to David Ellison, while CBS News President Tom Cibrowski reports to Cheeks. Another source said that arrangement is highly unlikely. To date, the asymmetrical set-up has given Weiss the upper hand on major decisions, but it has also created tension.Ellison Weighs Weiss Editorial RoleThe situation is delicate for Ellison, who handpicked Weiss to turn the struggling network into a more ideologically balanced, digital-focused outlet. Ellison and his father Larry Ellison still think highly of Weiss, according to sources. They view her as talented, possessing strong news judgment and great connections, and they want to keep her in the fold. But the father-and-son duo have also come to feel editor-in-chief is not the right role for her skill set, the sources said.A person with knowledge of the matter told The Post that Weiss has gotten some great bookings and brought energy and ideas to the table, but has failed to show big org leadership capability or interest or stamina. The source added that she has bungled and mishandled situations and caused unforced errors damaging to the CBS News brand. Weiss effort to shake up 60 Minutes included firing senior staffers and led to negative headlines.She also led a chaotic relaunch of CBS Evening News under anchor Tony Dokoupil. Weiss still has her supporters at the network. A fourth source who worked directly with Weiss in the past called her a once-in-a-generation talent who is a force. While her future at CBS News is uncertain, Paramount made clear this week that she will not be getting a managerial role at CNN.David Ellison once considered her for the head of CNN in addition to CBS but decided against it. Insiders speculated that part of Weiss changed role could also entail a renewed focus on her own site, The Free Press, which Ellison bought for $150 million last year. Sources said nothing about Weiss fate appears definitive and a final decision is not expected until the dust settles with the merger.The closing of the deal on October 6 is expected to reveal more about the inner workings of the company and how it will manage its many brands. The merger between Warner Bros Discovery and Paramount has been a topic of speculation for months. The deal will create a massive entertainment conglomerate housing numerous film and television brands. Skydance, led by David Ellison, has been positioning itself to take control of Paramount Global.Ruffalo Criticizes Merger ThreatThe addition of Warner Bros Discovery would significantly expand its portfolio. In the wake of the merger, Warner Bros Discovery has already struck its first major content deal, marking a significant international distribution agreement. This move indicates the company is preparing for a new era under Skydance. The merger has also drawn reactions from Hollywood figures.Actor Mark Ruffalo has been vocal in his criticism after a federal judge cleared the way for the merger, calling it a threat to the industry. With the closing date approaching, all eyes are on October 6, when more details about the merged entity leadership and strategy are expected to emerge.