David Ellison Plans Major Overhaul For Paramount Post-Merger

Sweeping changes are on the horizon for Paramount Global as it merges with Skydance Media, with David Ellison poised to lead the combined entity.

Ellison has committed to retaining Paramount Pictures and CBS, the company’s flagship properties, while exploring the sale of premium real estate in Los Angeles and New York City. I Photo: MatCC716 Wikimedia Commons

Ellison, the 41-year-old son of Oracle co-founder Larry Ellison, is expected to restructure management, scale back TV networks, and prioritize streaming investments, Fortune’s Data Sheet reported.

Under the restructuring, Paramount’s three co-CEOs—George Cheeks, Chris McCarthy, and Brian Robbins—are expected to see changes, with McCarthy and Robbins likely departing.

Paramount’s cable networks like Comedy Central, MTV, and Nickelodeon, though currently profitable, are in long-term decline.

Ellison has committed to retaining Paramount Pictures and CBS, the company’s flagship properties, while exploring the sale of premium real estate in Los Angeles and New York City.

His vision includes strengthening Paramount+ by integrating it with Paramount-owned Pluto TV and forging partnerships with competitors like Peacock and Max.

The merger, set to close by late March or early April, still requires Federal Communications Commission (FCC) approval due to the transfer of broadcast licenses. The transformation is expected to redefine Paramount’s position in the rapidly evolving entertainment landscape.