It's not clear what title Greenstein will hold once David Ellison's $8 billion deal to buy Paramount Global officially closes.

Sanford Panitch has been elevated to president of Sony’s Motion Picture Group. He used to share the title of co-president with Josh Greenstein, who is officially stepping down to join Paramount following the sale to Skydance.

Under the two-step deal, Skydance is set to acquire controlling shareholder Shari Redstone’s holding company National Amusements, which controls 77.4% of the Paramount Class A common stock outstanding and approximately 9.5% of the overall equity of the company, before merging with the Hollywood studio.