Daily highlights of Paramount's initial operations under the leadership of David Ellison, the new chief executive officer.
In a recent takeover, David Ellison, the Silicon Valley scion and son of Oracle founder Larry Ellison, has assumed control of Paramount, a TV and movie maker. Ellison, now the CEO of the combined Paramount-Skydance company, has made it clear that he aims to steer Paramount towards unbiased and ideologically diverse coverage, a shift that has been widely interpreted as a right-wing, pro-Trump move.
During a press event, Ellison expressed his admiration for the news division and the importance of fact-based journalism. However, he declined to comment on his reported talks with Bari Weiss about a possible deal with The Free Press, describing these reports as rumours and stating a preference to "move past the noise." The reported talks remain unconfirmed publicly.
Ellison has also pledged to invest in Paramount's streaming businesses and upgrade the company's technology systems. He expects to achieve and exceed the previously announced $2 billion in real efficiencies.
Jeff Shell, the new president of Paramount, has signalled the possibility of another round of layoffs, but no specific details have been provided.
In a move that has raised eyebrows, Ellison visited the offices of Paramount's CBS News division, which was dragged through a politically tainted merger process. During his visit, he acknowledged the stresses of the past year, including the "60 Minutes" lawsuit.
In a separate development, a $16 million settlement was reached between Paramount and President Trump last month. However, no information about a settlement or deal with President Trump was mentioned in relation to Ellison's visit.
Trump has stated that he has an understanding with Ellison for CBS and other Paramount-owned channels to air public service announcements for Trump-aligned causes. The ombudsman, seen as a transparency vehicle, was appointed to review complaints of bias when seeking Trump administration approval for the merger.
Despite the ombudsman not being overseen by the FCC or any other regulatory body, Ellison wants CBS News to appeal to a broad audience, ranging from center left to center right. The ombudsman, however, is not viewed as an oversight vehicle, according to Jeff Shell.
As Ellison settles into his new role, uncertainty surrounds potential deals and layoffs. The future of Paramount Global under Ellison's leadership remains a topic of much discussion and speculation.
- Ellison, seeking to broaden Paramount's reach, announced plans to invest in media technology and finance, aiming to boost the company's streaming businesses and create $2 billion in real efficiencies.
- Amidst speculation about potential deals, Ellison visited the offices of CBS News, signaling a desire to steer the media division towards coverage that appeals to a diverse audience, ranging from center-left to center-right.
