David Ellison has taken control of Paramount Pictures, the legendary TV and movie maker, following a contentious merger process with Silicon Valley scion Skydance. The transition is seen as symbolic, with the Redstone family handing over to Larry Ellison’s son, who has pledged to invest in Paramount’s streaming businesses and upgrade its outdated technology systems.
Ellison, 42, CEO of Skydance, has used the word “tech” ten times in an introductory letter and promised to enhance the company’s streaming services. His first act as CEO was visiting CBS News offices, which faced criticism from President Trump during the merger review process.
A $16 million settlement with Trump was announced last month, sparking rumors that Paramount paid off Trump to secure administration approval for the merger. Ellison declined to confirm or deny a deal with Trump, saying they are focused on the future.
Ellison emphasized the long-term nature of his plan for Paramount, which includes fixing outdated systems and achieving real efficiencies worth $2 billion. He also expressed his admiration for CBS News and its commitment to fact-based journalism, aiming to reach 70% of Americans with diverse perspectives.
The company has committed to hiring an ombudsman to review complaints of bias, but Shell described it as a transparency vehicle rather than an oversight one. Ellison’s visit to CBS News offices was seen as symbolic, with the new CEO vowing to be judged by his work and not external noise.
Source: https://edition.cnn.com/2025/08/07/media/paramount-skydance-cbs-news-david-ellison-merger