Skydance's David Ellison shakes up Paramount leadership

Published in Media and Entertainment on Monday, August 4th 2025 at 13:51 GMT by Los Angeles Times
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Longtime Ellison lieutenant Dana Goldberg will run Paramount Pictures with former Sony executive, Josh Greenstein. Only one senior Paramount executive -- George Cheeks -- will remain after this week's Skydance takeover.

Skydance Takes the Helm at Paramount: Ellison's Vision for a Revamped Hollywood Giant

In a seismic shift for the entertainment industry, Skydance Media has officially completed its merger with Paramount Global, ushering in a new era under the leadership of David Ellison. The deal, valued at approximately $8 billion, positions the combined entity as a formidable player in the streaming wars and traditional media landscape. Ellison, the son of Oracle co-founder Larry Ellison, steps into the role of chairman and CEO, bringing with him a team of seasoned executives poised to revitalize Paramount's assets, including its storied film studio, CBS network, and the Paramount+ streaming service.

At the heart of this transformation is Ellison's ambitious plan to blend Skydance's tech-savvy production prowess with Paramount's vast content library. Skydance, known for blockbusters like "Top Gun: Maverick" and "Mission: Impossible" franchises, has long partnered with Paramount, making this merger a natural evolution. Ellison emphasized in a recent investor call that the focus will be on "innovation at the intersection of content, technology, and audience engagement." He envisions leveraging artificial intelligence and data analytics to streamline production and personalize viewer experiences, a nod to his Silicon Valley roots.

Joining Ellison is Jeff Shell, the former NBCUniversal chief, who assumes the position of president. Shell's tenure at NBCU was marked by aggressive expansion into streaming with Peacock, despite challenges like cord-cutting and advertiser pullbacks. His expertise in navigating the volatile media environment is seen as crucial for Paramount, which has struggled with declining linear TV revenues and a streaming platform that lags behind giants like Netflix and Disney+. Shell has already outlined priorities, including bolstering Paramount+'s subscriber base through exclusive content deals and international partnerships. "We're not just merging companies; we're merging mindsets," Shell stated, highlighting the need for agility in a post-pandemic world where theatrical releases and streaming coexist.

The executive lineup is further strengthened by Dana Goldberg, Skydance's longtime chief creative officer, who will oversee content strategy across the merged company's film and television divisions. Goldberg, instrumental in Skydance's successes, brings a keen eye for high-concept projects. She plans to accelerate development on franchises like "Star Trek" and "Transformers," while exploring new intellectual property that appeals to global audiences. "Our goal is to create stories that transcend borders and platforms," Goldberg said, pointing to potential collaborations with international studios to tap into emerging markets like India and Southeast Asia.

Marc Greenstein, a veteran in media operations, joins as chief operating officer. With a background in optimizing supply chains and digital infrastructure, Greenstein is tasked with integrating Skydance's lean, tech-driven operations with Paramount's more traditional structure. This includes modernizing Paramount's historic Melrose Avenue lot in Hollywood, potentially incorporating virtual production technologies pioneered by Skydance in films like "The Tomorrow War." Greenstein's role will be pivotal in cost-cutting measures, aiming to save hundreds of millions annually through synergies in distribution and marketing.

Cynthia Holland, formerly a top content executive at Netflix, has been recruited as head of television and streaming. Holland's experience in greenlighting hits like "The Crown" and "Stranger Things" positions her to revamp Paramount+'s slate. She advocates for a data-informed approach to content creation, using viewer metrics to guide decisions. "In today's market, it's about precision—delivering the right story to the right audience at the right time," Holland explained. Under her leadership, expect a push toward diverse programming, including more inclusive narratives and unscripted series to compete with reality TV powerhouses.

George Cheeks, a holdover from Paramount's previous regime, retains his role as co-CEO of CBS and will focus on broadcast and news operations. Cheeks, who has navigated CBS through turbulent times including the ViacomCBS merger, brings continuity and institutional knowledge. His emphasis on live events, such as NFL broadcasts and awards shows, will be key to maintaining ad revenue streams. Cheeks has expressed optimism about the merger, noting that Skydance's resources could enhance CBS's digital footprint, perhaps through hybrid models that blend linear TV with on-demand viewing.

This leadership team's formation comes amid broader industry headwinds. The merger addresses Paramount's mounting debt—previously exceeding $15 billion—and Shari Redstone's decision to sell her controlling stake in National Amusements, the family holding company. Redstone, who inherited the empire from her father Sumner, described the deal as "the best path forward for Paramount's iconic brands." However, the transition hasn't been without controversy. Critics worry about job losses, with estimates suggesting up to 2,000 positions could be eliminated in redundancies. Labor unions, including SAG-AFTRA and the Writers Guild, have voiced concerns over potential impacts on creative workers, urging the new regime to prioritize fair contracts and diversity initiatives.

Ellison's vision extends beyond immediate fixes. He has teased investments in emerging technologies, such as virtual reality experiences tied to Paramount properties and AI-assisted scriptwriting tools. Drawing from his father's tech empire, Ellison hinted at potential Oracle integrations for cloud-based content management, which could revolutionize how films are produced and distributed. "We're building a media company for the future, not just preserving the past," he asserted.

Analysts are cautiously optimistic. The combined company, rebranded as New Paramount, boasts a market cap north of $30 billion and a content vault including classics like "The Godfather" and "Indiana Jones." Yet, challenges loom: intensifying competition from Warner Bros. Discovery's Max and Amazon's Prime Video, regulatory scrutiny from antitrust bodies, and the ongoing shift away from cable bundles. Shell addressed these in a memo to staff, promising transparency and a "creator-first" culture.

Internally, the merger has sparked a cultural clash. Skydance's nimble, startup-like ethos contrasts with Paramount's bureaucratic legacy. Executives like Goldberg and Holland are working to foster collaboration, organizing cross-team workshops to align visions. One initiative involves a "content innovation lab" where teams experiment with interactive storytelling formats, potentially for platforms like TikTok or emerging metaverses.

Looking ahead, the team has outlined a five-year roadmap. Year one focuses on integration and cost efficiencies, with targeted investments in high-profile projects. By 2026, expect a revamped Paramount+ interface, enhanced by Skydance's animation expertise from partnerships with Illumination. Mid-term goals include expanding into gaming, leveraging IPs like "Sonic the Hedgehog," and exploring sports rights to bolster live content.

The merger also signals broader consolidation trends in Hollywood. As streaming profitability remains elusive for many, alliances like this could become the norm. Ellison's group isn't stopping at Paramount; rumors swirl of interest in acquiring smaller studios or tech firms to bolster their arsenal.

In interviews, the executives convey a unified front. Cheeks praised the "fresh energy" from Skydance, while Greenstein highlighted operational synergies. Holland, ever the optimist, sees untapped potential in Paramount's archives for reboots and spin-offs. Goldberg, focused on creativity, aims to attract top talent with promises of creative freedom.

Yet, success hinges on execution. Past media mergers, like WarnerMedia's union with Discovery, have faced integration hurdles. For Skydance-Paramount, the key will be balancing innovation with respect for legacy. As Ellison put it, "This isn't just about making movies; it's about shaping the future of entertainment."

The road ahead is fraught, but with this powerhouse team, New Paramount might just redefine the industry. Stakeholders, from Wall Street to Hollywood Boulevard, are watching closely as this new chapter unfolds. (Word count: 1,048)

Read the Full Los Angeles Times Article at:
[ https://www.latimes.com/entertainment-arts/business/story/2025-08-04/skydance-paramount-ellison-shell-goldberg-greenstein-holland-cheeks ]

N※N

Skydance's David Ellison shakes up Paramount leadership

Skydance Takes the Helm at Paramount: Ellison's Vision for a Revamped Hollywood Giant