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Paramount CEO David Ellison Unveils Tech-Driven Vision Following Merger with Skydance

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David Ellison, the newly appointed chairman and CEO of Paramount, outlined a strategic vision to transform the company into a technology-focused media powerhouse following its $8.4 billion merger with Skydance Media.

Ellison emphasized a shift toward blending Hollywood’s storytelling heritage with Silicon Valley’s innovation, aiming to scale Paramount’s global streaming business and improve efficiency through a major reorganization. The company will be divided into three core units: studios, direct-to-consumer, and TV media, with plans to consolidate operations onto a unified technology platform to reduce costs.

The reorganization intends to cut $2 billion in expenses by streamlining labor, real estate, and procurement. Paramount will prioritize investment in high-quality exclusive content, especially sports, which is seen as a key driver for subscriber retention.

Technology will serve as an enabler of creativity, including virtual production stages, AI-assisted content localization, and a proprietary ad-tech stack to optimize revenue across streaming and traditional TV.

The company plans to unify its subscription service Paramount+ and free streaming service PlutoTV on one platform to enhance user experience and reduce costs.

Ellison also reaffirmed commitment to CBS News, acknowledging the newsroom’s dedication and pledging to support unbiased journalism. However, the Federal Communications Commission’s regulatory approval process stirred controversy, with FCC Commissioner Anna Gomez criticizing the imposition of strict editorial oversight as politically motivated.

Paramount Co-CEO Brian Robbins to Step Down Following Skydance Merger

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Brian Robbins, who played a key role in growing Paramount+ streaming service, is stepping down as co-CEO of Paramount Global (PARA.O) after the completion of its merger with Skydance Media, according to a memo seen by Reuters on Wednesday. Skydance CEO David Ellison will assume leadership as chief executive once the merger closes by August 7.

In the memo, Robbins expressed confidence in Ellison and the incoming Skydance team, saying, “The company is in exceptionally capable hands.” Robbins joined Paramount in 2017 and was appointed co-CEO in April 2024 alongside George Cheeks and Chris McCarthy, collectively succeeding Bob Bakish.

Chris McCarthy’s departure was announced last month, while Cheeks will stay on as chair of media, overseeing Paramount’s broadcast and cable TV operations. Robbins previously served as CEO of Nickelodeon (2018) and became Paramount Pictures chief in 2021, overseeing 17 box office number one releases and franchises such as Sonic the Hedgehog, A Quiet Place, and Mission: Impossible.

Post-merger, the company is expected to be reorganized into three main segments: studios, direct-to-consumer, and TV media.