Paramount appoints former Meta executive as chief product officer

LOS ANGELES - Paramount, a Skydance Corporation (NASDAQ:PSKY), trading at $15 per share with a market-friendly Price/Book ratio of 0.44, announced Wednesday the appointment of Dane Glasgow as Chief Product Officer, a newly created position that reports directly to CEO David Ellison.

Glasgow, previously Vice President of Product Management at Facebook (Meta), will lead the company’s product vision and strategy across digital platforms, immersive storytelling, advertising, and AI capabilities. He will work closely with Cindy Holland, Chief of Direct-to-Consumer, on platform and audience engagement strategies.

The technology executive brings experience from leadership roles at major tech companies including Google, eBay, and Microsoft. He also co-founded Neoglyphic Entertainment and Positronic.

"As we strive to push the boundaries of creativity and innovation, bringing on a leader of Dane’s caliber marks a pivotal step forward," said Ellison in a press release statement.

Glasgow expressed enthusiasm about joining the entertainment company: "Entertainment and storytelling inspired my passion for technology from a very young age. I am thrilled to become a part of Paramount."

The appointment comes as Paramount Skydance aims to strengthen its position in the evolving media landscape. The company operates across three business segments: Studios, Direct-to-Consumer, and TV Media, with brands including Paramount Pictures, CBS, Nickelodeon, MTV, BET, Comedy Central, Showtime, and Paramount+.

In other recent news, Paramount Skydance has announced a collaboration with Microsoft’s Activision to develop a live-action film based on the Call of Duty franchise. This development follows the company’s recent merger with Skydance Media, which is part of a broader strategy to expand its media offerings. Meanwhile, Paramount is planning significant layoffs in November as part of a $2 billion cost-cutting initiative. This move comes after Jeff Shell, now serving as Paramount’s president, directed managers to prepare for the upcoming staff reductions.

In financial developments, Morgan Stanley has adjusted its price target for Paramount Skydance to $10 from $12, maintaining an Underweight rating. BofA Securities also initiated coverage on the company with an Underperform rating and a price target of $11. Additionally, Paramount Skydance has informed employees of a mandatory return to full-time office work starting January 5, 2026, with buyout options available for those unwilling to comply. These recent developments highlight the company’s ongoing efforts to navigate the challenges and opportunities in the media industry.

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