David Ellison, the ambitious Oracle heir who once counted Steve Jobs as a mentor, has set his sights on turning Paramount Skydance into a tech-era media monolith. With an $8 billion deal, he takes over the country’s second-oldest studio, one of its most troubled media companies. Ellison’s vision for a well-run Paramount, coupled with his focus on gaming and digital frontiers, could prove appealing.
Skydance already has a hand in VR games like Archangel and The Walking Dead: Saints and Sinners, and partnering with Paramount’s robust intellectual properties and 80 million-strong streaming service Paramount+ is a promising move. However, the existing infrastructure poses challenges, including an old-school Hollywood team and a network TV business in CBS that’s solid but not shiny.
Andy Gordon, an incoming board member and former Goldman Sachs kingmaker, joins RedBird Capital, which has invested heavily in Skydance. His ties to the new Paramount COO and chief strategic officer position him to drive deals that benefit the company. Ellison’s tech ties, including his father Larry’s $303 billion fortune, could give Paramount a competitive edge.
The industry is poised for significant changes with AI-powered personalized content and automated production on the horizon. But will Ellison’s vision and team be enough to navigate this new landscape? Only time will tell if his gamble on Paramount Skydance pays off.
Source: https://www.hollywoodreporter.com/business/business-news/david-ellison-paramount-skydance-plan-tech-1236338245