Skydance Motion Picture Group Co-Chairs Josh Greenstein & Dana Goldberg Say In Day 1 Memo That Film Divisions Will Operate Independently

Paramount Pictures Co-Chairs Dana Goldberg and Josh Greenstein sent out a Day 1 memo to the troops at the Paramount and Warner Bros. Motion Picture units.

Among the priorities, we understand, is keeping legacies of both studios alive. In the memo, Goldberg and Greenstein say they see themselves as “stewards of two of the most storied studios in Hollywood history.”

They also explained that the companies’ respective film divisions will operate independently.

“We have organized our film divisions around the movies themselves. Paramount Pictures and Warner Bros. Pictures will continue to build and release their slate of films separately, under those brands. This means that each Warner Bros. Pictures or Paramount Pictures film you see will carry its respective logo. They are the cornerstone labels and will remain the homes for our largest commercial and filmmaker-driven projects. DC Studios, New Line Cinema and Paramount Primal will continue as distinct labels with specific mandates. Our animation and specialty labels, including Republic Pictures and Warner Bros. Clockwork, will also operate independently.”

A more immediate priority for the duo — who have been working on getting the Paramount motion picture unit into financially reasonable shape — is getting under the hood of Warner Bros.

Here is the full text of their memo:

Dear teammates,

Today marks Day One of a new chapter, and we are proud to share it with all of you. It’s an immense privilege to make movies, and an even greater honor to do so as the stewards of two of the most storied studios in Hollywood history. We take that responsibility seriously and have enormous respect for the people, work and relationships that have made these studios what they are today.

At the heart of that legacy is a simple belief that movies are best seen together, on a big screen. A century later, that human connection is still alive. Going to the movies is a communal tradition, where a story becomes a moment we carry together. That tradition is thriving, and David Ellison is making one of the biggest investments in its future. We believe in it, and we are all in.

Our mission is to build on these studios’ legacies as homes for the greatest filmmakers and storytellers. We will embrace their vision, back it with the best marketing and distribution in the business, and keep creating cultural moments that shape generations. That means taking bold swings, alongside crowd-pleasers, with a steady willingness to push boundaries.

We have organized our film divisions around the movies themselves. Paramount Pictures and Warner Bros. Pictures will continue to build and release their slate of films separately, under those brands. This means that each Warner Bros. Pictures or Paramount Pictures film you see will carry its respective logo. They are the cornerstone labels and will remain the homes for our largest commercial and filmmaker-driven projects. DC Studios, New Line Cinema and Paramount Primal will continue as distinct labels with specific mandates. Our animation and specialty labels, including Republic Pictures and Warner Bros. Clockwork, will also operate independently.

We won’t pretend a combination of this size comes without change. We know you will have questions, and we will respond to as many as we can, though we won’t be able to answer everything today. In the months ahead, we will spend time with the teams across both studios, listening, learning and sharing updates along the way. Your experience and perspective will be essential in shaping what comes next. What we can say with confidence is that our purpose is simple, and it starts with the work in front of us.

Our collective job is to give teams and filmmakers the support they need to do their best work, and to make movies that entertain and endure. The opportunity ahead of us is extraordinary, and we look forward to building on everything you have accomplished.

Together, we are going to build something special.

Long live the movies,

Dana & Josh

The missive comes just hours after Skydance co-CEO David Ellison sent his own memo.