David Ellison, set to lead Paramount Global after its merger with Skydance Media in 2024, plans major restructuring, including TV network consolidation, increased streaming investment, and leadership changes.
Paramount's TV networks, including CBS and MTV, may merge, cutting costs and staff, with original programming reduced. Streaming service Paramount+ will see significant upgrades, including enhanced user experience and integration with Pluto TV. Real estate sales and potential network divestitures are also under consideration.
Despite financial challenges, Ellison sees Paramount’s smaller size as an opportunity for innovation, supported by funding from his father, Oracle co-founder Larry Ellison, to strengthen the company's position.