David Ellison is said to plan sweeping changes at Paramount Global, including cuts at the company’s TV networks, billions of dollars more for streaming and an overhaul of top management.
Paramount’s three-headed leadership structure will reportedly get shelved once the $8 billion merger with Skydance Media goes through — with two of the co-CEOs likely getting pushed out.
David Ellison, the current Skydance boss who will run the combined company as chairman and CEO, is planning a massive shakeup that could involve combining all of Paramount’s television assets, including CBS and MTV, into one unit, according to Bloomberg News.
Currently, the television properties are jointly run by co-CEOs Chris McCarthy and George Cheeks.
He is expected to depart the new company around the time the merger is consummated — which can happen as early as March — though people familiar with the matter told Bloomberg that no final decision on Robbins has been made.
Ellison — the son of billionaire Oracle co-founder Larry Ellison — has collaborated extensively with Robbins in recent years.
However, Ellison is said to be considering installing Dana Goldberg, Skydance’s head of production, as head of Paramount’s film studio, according to Bloomberg News.
Skydance helped finance most of Paramount’s blockbuster films over the last decade, including “Top Gun: Maverick” and the latest “Mission: Impossible” films.
In September, the debt-saddled media giant kicked off a second round of layoffs in its previously announced plans to cut 2,000 jobs. Employees were told by Ellison that no decision has been made about any additional layoffs once the merger is finalized, Bloomberg News reported.
The consolidation of the television assets is a necessity for Ellison given the fact that viewers are abandoning linear broadcasting in droves.
No comments:
Post a Comment