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LOS ANGELES - Paramount Skydance Corporation (NASDAQ:PSKY), whose stock has surged over 78% year-to-date according to InvestingPro data, announced Tuesday the appointment of Dennis K. Cinelli as an independent director to its Board of Directors, effective immediately, expanding the board to 11 members.
Cinelli currently serves as Chief Financial Officer at Scale AI, where he has overseen sevenfold revenue growth and managed a $1 billion Series F financing round and $14 billion strategic investment from Meta, according to a company press release.
Prior to joining Scale AI, Cinelli held senior leadership positions at Uber, including Vice President of Global Strategic Finance, where he led the company’s 2019 IPO. He also previously served as Chief Financial Officer for GE Ventures, General Electric’s $1 billion corporate venture capital arm.
"We’re thrilled to welcome Dennis to our Board," said David Ellison, Chairman and CEO of Paramount. "He brings a unique blend of operational expertise and financial insight, shaped by his strong track record in driving cross-functional growth and embracing emerging technologies."
At Scale AI, Cinelli has developed business functions across Finance, Data Science, Sales, Strategy, and Partnerships, while establishing relationships with AI model builders and cloud service providers.
Cinelli holds a Bachelor of Science in Finance from the University of Maryland’s Robert H. Smith School of Business.
Paramount Skydance Corporation operates three business segments: Studios, Direct-to-Consumer, and TV Media, encompassing brands including Paramount Pictures, CBS, Nickelodeon, MTV, BET, Comedy Central, Showtime, and Paramount+. The company generates annual revenue of $28.76 billion and maintains a solid financial position with a current ratio of 1.39. InvestingPro analysis reveals 10+ additional insights, including the company’s 20-year track record of consistent dividend payments, currently yielding 1.08%. For comprehensive analysis, access the detailed Pro Research Report available for PSKY and 1,400+ other US stocks.
In other recent news, Warner Bros. Discovery is at the center of discussions following Senator Elizabeth Warren’s criticism of a potential merger with Paramount. Warren expressed strong opposition to the deal, citing concerns over media consolidation and suggesting it should be blocked. Meanwhile, rumors of a possible bid for Warner Bros. Discovery by Paramount Skydance have surfaced, with Benchmark maintaining its Buy rating on Paramount Skydance. In a separate development, Paramount has appointed Dane Glasgow, a former Meta executive, as Chief Product Officer to lead its product vision and strategy. Additionally, BofA Securities has initiated coverage on Paramount Skydance with an Underperform rating, highlighting potential challenges despite the company’s growth prospects. Paramount Skydance has also announced a full-time office return for employees starting in 2026, with an option for buyouts for those unwilling to comply. These developments reflect ongoing strategic shifts and market reactions within the media industry.
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