Los Angeles / Global, 15 September 2025 — Just weeks after completing the $8.4 billion merger that made Skydance Media the new owner of Paramount, CEO David Ellison has launched an aggressive strategy to revamp the storied studio into a sprawling entertainment, sports, and media empire that blends Hollywood’s legacy storytelling with Silicon Valley innovation.
Ellison, buoyed by backing from his father Larry Ellison (co-founder of Oracle) and a tech-centric background, is making big bets across genres and content types — and he is doing so at speed. In one of his first high-profile moves, Paramount secured a seven-year, US$7.7 billion licensing deal for the U.S. streaming and broadcast rights to the Ultimate Fighting Championship (UFC), beginning in 2026.
That deal followed another blockbuster agreement: a US$1.5 billion global streaming rights contract with South Park creators Trey Parker and Matt Stone. These deals underscore Ellison’s willingness to invest heavily in premium, diverse content to rebuild Paramount’s content library in multiple verticals.
Bold Ambitions Beyond Content Deals
Ellison’s vision doesn’t stop at securing big content deals. He is reportedly preparing a bid to acquire Warner Bros Discovery (WBD), which owns assets such as HBO, CNN, TNT, and Warner Bros Studios. The planned merger, though not yet official, would combine Paramount’s deep archive — including Star Trek, The Godfather, and others — with Warner’s equally storied franchises. Such a move would reshape the media landscape.
At the same time, leadership changes are underway. Ellison has already made strategic appointments in the news division, including installing Kenneth Weinstein — a former head of the Hudson Institute, and known for conservative affiliations — as ombudsman of CBS News. Ellison is also reported to be exploring other media acquisitions and partnerships aimed at scaling both reach and influence.
Source of Strength: Tech Roots & Financial Backing
Ellison’s operational style reflects his tech upbringing. Before heading Skydance, he gained exposure to programming and Silicon Valley thinking, and he has emphasized using technology not just as a tool, but as an enabler of storytelling. He has spoken of melding Hollywood’s creative engine with Silicon Valley’s speed and platform-first mindset.
Financially, Ellison is in a strong position. With his father Larry Ellison’s fortune and influence, the new Paramount has access to substantial capital. This has given Ellison room to move aggressively in content acquisition and explore large‐scale transactions.
Risks, Challenges & What to Watch
Despite the fanfare, several hurdles may test Ellison’s ability to execute:
- Regulatory scrutiny: A proposed acquisition of Warner Bros Discovery would trigger antitrust reviews, especially around content concentration, platform dominance, and news media overlap.
- Cost pressures: Premium content deals are expensive, and streaming rights, sports rights, and licensing costs continue to rise. Ellison must balance investment with profitability, particularly for streaming platforms like Paramount+ and PlutoTV.
- Competition: Paramount is already contending with Netflix, Disney, Amazon, and other large players for both talent and consumer attention. Achieving differentiation will require unique content, streamlined operations, and effective global distribution.
- Integration risk: Merging Skydance Media’s culture, operations, streaming services, and production pipelines with Paramount’s legacy business — studios, cable, broadcast — will be complex. Ellison’s decisions on content, leadership, and technology platforms will be under scrutiny.
Looking Ahead
Ellison’s early moves suggest that his Paramount is aiming not just for a content revival but for a broader redefinition: one where streaming, sports, news, and premium entertainment are under a single technology-infused umbrella.
How successfully he can convert headline deals into sustainable growth, how regulators respond to potential consolidation, and whether audiences respond favorably to the revived content slate will all determine whether Ellison’s vision becomes reality. For now, media observers are watching closely: the race to rebuild Paramount has just begun.
