David Ellison, a prominent figure in tech, and his executive team at Paramount are signaling a fresh chapter to the film industry by sending a clear signal: A new phase has begun.
Approximately seven days following the acquisition of the run-down media company, Ellison and his senior management team gathered with journalists on the Paramount Pictures studio lot on a Wednesday to demonstrate their commitment.
As a movie enthusiast hailing from the Golden State, I’m thrilled to share that Ellison and his squad will be stationed right here in Tinseltown – Hollywood, to be precise. Instead of peering at the entertainment world through New York’s spectacles, we aim to embrace the California perspective by pouring substantial resources, diving headfirst into technology, and expanding upon beloved franchises such as “Top Gun,” “Star Trek,” and the epic saga of “Yellowstone.
Just last week, Skydance Media, owned by Ellison and backed by RedBird Capital Partners, finalized an $8-billion acquisition deal for the company encompassing CBS, Comedy Central, MTV Networks, Showtime, and the Melrose Avenue film studio.
Ellison emphasized that a major goal for us is to reestablish Paramount as the premier global hub for exceptional artists and movie creators. To put it plainly, outstanding filmmakers produce remarkable films.
Such a Paramount comeback would be long overdue.
For nearly a century, the movie studio has struggled due to insufficient investment, often finding itself overlooked by prominent Hollywood directors. Nevertheless, the studio intends to unveil eight films in the upcoming year; however, this output is deemed too meager to maintain a successful theatrical film business, according to Paramount’s leaders.
We aim to almost double the amount of annual feature films from around 8 up to approximately 15, with the eventual goal of producing even more – about 20 films each year.
42-year-old leader Ellison was anxious to put behind him the time when he faced political criticism, after the extensive scrutiny of the deal and President Trump’s legal action against CBS for altering a “60 Minutes” interview with Kamala Harris in autumn. Last month, Paramount settled the lawsuit, agreeing to pay $16 million as part of the resolution.
A few days later, Stephen Colbert was informed by CBS that his late-night talk show would be coming to an end in May. This announcement sparked dismay among some devoted fans and fueled rumors suggesting the show was terminated to appease President Trump. However, CBS insists that the decision was solely based on financial considerations, as the show had been operating at a loss.
The programming will be designed with diverse audiences in focus, as Ellison and his team mentioned. Ellison aims to steer the company beyond political divides, reaching out to a larger public base.
As a movie enthusiast, I firmly believe that it’s crucial to keep politics aside when it comes to our company. We’re primarily an entertainment hub, and my conviction is unwavering – if you’re alive and enjoying films, then you’re part of our community. Our mission is to engage with everyone, irrespective of any differences.
Movies have always held a deep fascination for Ellison. As a child, he often went to the cinema with his mom and sister or selected videos from their vast collection of VHS tapes at home.
The studio aims to substantially increase the volume of content they produce, and they’ve appointed Dana Goldberg and Josh Greenstein, a previous executive from Sony, as co-chairs of Paramount Pictures. The focus will be on crucial intellectual properties like “Star Trek,” “World War Z,” and “Transformers.” In fact, Dana Goldberg mentioned that “Star Trek” is a top priority for the entire company.
Executives at Paramount are equally enthusiastic about original movies led by filmmakers. Not too long ago, Paramount announced they’ve acquired an original project titled “High Side,” directed by James Mangold, who is best known for “A Complete Unknown.” This exciting venture brings him together once more with actor Timothée Chalamet.
Paramount Pictures is considering producing more family-oriented films, using timeless movies such as “The Goonies,” “Gremlins,” and “Night at the Museum” as inspiration, according to Goldberg. They are also exploring opportunities for R-rated comedies, horror films, and narratives that resonate with mainstream audiences in Middle America.
According to Cindy Holland, the newly appointed head of streaming at Paramount, there are no intentions for Paramount+ to produce inexpensive films en masse.
Ellison stated that the movies we create are intended for a theatrical release, emphasizing the cultural importance of presenting films on the big screen.
As a movie enthusiast myself, I can’t help but sing the praises of Tom Cruise, a man I had the privilege of crossing paths with when we both embarked on our creative journeys together in 2010 through Skydance Media, a company I helped establish. Our partnership has been instrumental in bringing forth blockbusters like “Top Gun: Maverick” and the latest installments of the “Mission: Impossible” series. In fact, when Paramount restructured their leadership, my partner and I reached out to Cruise personally, acknowledging our shared passion for cinema.
Goldberg stated, “He deserves thanks for his substantial role in Paramount’s past, present, and future significance. In simpler terms, he’s made a huge impact on Paramount, and ‘Top Gun 3’ is a top priority because of him.
Under the latest business restructuring, Larry Ellison’s family, along with RedBird, now have the power to shape the company’s growth trajectory long-term, rather than focusing on short-term profits on a quarterly basis.
As a movie reviewer diving into the latest corporate drama, I’m thrilled to report that the Ellison family has snagged a substantial 50% stake in this cinematic venture, while RedBird cleverly holds onto a formidable 20%. The remaining 30% is firmly in the hands of our faithful, long-term investors. The opening bell rang on Wednesday, and the shares skyrocketed an astounding 36%, soaring to an impressive $15! This blockbuster move certainly promises an exciting ride for all shareholders!
At the event, Gerry Cardinale – the founder of RedBird and one of Ellison’s investors – expressed his belief in Paramount’s future success.
During the event, RedBird founder Gerry Cardinale, who is also an investor with Ellison, highlighted his faith in Paramount’s potential.
Cardinale appointed two of his most prominent leaders, Andy Gordon, a previous Goldman Sachs banker who now serves as both COO and CSO at Paramount, and Jeff Shell, a former executive from NBCUniversal who is now the president of Paramount, to emphasize the significance of rebuilding.
“I’m betting my firm and my career on this deal,” Cardinale said.
On Wednesday, veteran investor Mario Gabelli filed a lawsuit against Redstone and Paramount, claiming that the agreement’s terms unfairly benefited Redstone, while other shareholders were not given a premium for their stocks.
From a cinema enthusiast’s perspective, as part of the agreement, I got a whopping $2.4 billion for my National Amusements Inc., a company that happened to own controlling shares. Once we clear our substantial debts, I’ll be left with approximately $1.75 billion. On the other hand, the B-class shareholders of Paramount received a neat $15 per share.
Skydance and RedBird are assuring investors they’ll save $2 billion in expenses, which likely means more budget cuts and potential job reductions. Shell expressed reluctance for Paramount to become a company consistently undergoing layoffs, stating their goal is to carry out one restructuring and then cease such actions.
The executives demonstrated no intention of separating the cable channels, a move contrasting with companies like Comcast and Warner Bros. Discovery, who are planning spins-offs. According to Shell, this decline in the channels’ significance presents an opportunity for the company to reinvent these brands.
During their initial week, Ellison and RedBird have placed substantial investments. On Monday, the company announced plans to allocate approximately $7.7 billion over a span of seven years to secure exclusive U.S. streaming and television rights for mixed-martial arts fights from the UFC, with these events being broadcast on Paramount+ and CBS.
As a cinephile enthusiast, I’m excited to share some exciting news about my favorite adult animated series, “South Park.” In July, Paramount reached an agreement to shell out a whopping $1.25 billion over five years to the brilliant minds behind it! This means that starting from now, you can find this comedic gem exclusively on Paramount+.
In addition, Trey Parker and Matt Stone, the creators of this genius show, have also signed a separate deal with Paramount. So, if you’re craving more “South Park,” there’s no need to look anywhere else – it’ll all be right here on Paramount+!
When questioned about undervalued Paramount assets, Ellison highlighted the extensive influence of CBS, which recently topped broadcast networks in prime-time for the 17th consecutive television season finale. Additionally, he emphasized CBS’s connections with the NFL, Masters golf tournament, and NCAA March Madness events.
Gordon added, “I actually think every asset is underappreciated here.”
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2025-08-14 03:31