Skydance boss David Ellison to cut Paramount’s three-headed CEO structure after merger: report

Skydance Media CEO David Ellison is reportedly preparing to streamline Paramount Global’s leadership following their highly anticipated merger. According to insiders, Ellison intends to dismantle the company’s current three-headed CEO structure, marking a decisive shift in how one of Hollywood’s oldest studios will operate in the streaming era.

The move, if confirmed, would signal Ellison’s intent to centralize creative and financial decision-making as part of a broader effort to revitalize Paramount’s struggling entertainment empire. The restructuring could reshape the future of brands such as CBS, Paramount Pictures, MTV, and Nickelodeon under a single, unified leadership model.

Development

Reports suggest that Ellison views the current three-CEO system—implemented after Bob Bakish’s departure earlier this year—as inefficient and confusing. The trio currently leading Paramount includes George Cheeks, Chris McCarthy, and Brian Robbins, each overseeing separate divisions of the conglomerate. While the arrangement was intended to ensure stability, industry observers say it has instead created overlapping authority and strategic gridlock.

According to a report from The Wall Street Journal, Ellison’s restructuring plan will likely eliminate that shared control model shortly after the merger closes. Insiders claim he plans to appoint a single CEO to oversee the newly merged entity, with other executives potentially reassigned to division-specific roles.

Ellison, son of Oracle founder Larry Ellison, has built Skydance into a formidable player in Hollywood, producing franchises like Mission: Impossible, Top Gun: Maverick, and Terminator: Dark Fate. His management style emphasizes agility and long-term vision—traits he reportedly wants to bring to Paramount as it struggles to compete with giants like Disney, Netflix, and Warner Bros. Discovery.

Paramount Global has faced mounting challenges in recent years, including declining cable revenue, mounting debt, and a costly transition toward streaming. Its platform, Paramount+, has seen growth but continues to lag behind competitors in both scale and profitability. Analysts believe Ellison’s leadership could bring new strategic discipline and investment to accelerate digital expansion.

In addition to the leadership overhaul, Ellison is said to be exploring partnerships and potential content-sharing agreements to boost Paramount’s global footprint. His close ties to technology investors and Silicon Valley resources could help bridge the gap between legacy entertainment and digital innovation.

However, the proposed restructuring may also trigger significant executive shake-ups and internal tension. Some Paramount veterans reportedly fear that the merger could lead to layoffs or cultural clashes between Skydance’s lean, fast-moving operation and Paramount’s traditional corporate hierarchy.

While Ellison has not publicly commented on the leadership changes, sources say he aims to finalize the new structure soon after the merger closes, expected later this year pending regulatory approval.

FAQ – Frequently Asked Questions

1. Who is David Ellison?
   He is the founder and CEO of Skydance Media and the son of Oracle co-founder Larry Ellison. He has produced major film franchises and is known for his tech-driven approach to entertainment.
2. What is the current leadership structure at Paramount?
   Paramount is currently led by three co-CEOs—George Cheeks, Chris McCarthy, and Brian Robbins—who each oversee different divisions.
3. Why is the three-headed CEO model being criticized?
   Industry insiders say it creates confusion and slows decision-making, as overlapping responsibilities make it difficult to execute unified strategies.
4. What changes is Ellison planning?
   He reportedly plans to consolidate leadership under a single CEO after the merger, streamlining operations and improving accountability.
5. When will the merger be completed?
   The merger between Skydance and Paramount Global is expected to close later this year, pending regulatory review and shareholder approval.
6. How will this affect Paramount’s streaming business?
   Ellison is expected to prioritize digital expansion, possibly introducing new content strategies and partnerships to strengthen Paramount+.
7. Could there be layoffs as part of the restructuring?
   Possibly. Major corporate mergers often involve workforce reductions, especially when roles overlap between merged divisions.
8. What advantages does Skydance bring to Paramount?
   Skydance’s strong production track record and Ellison’s access to Silicon Valley investment could inject innovation and agility into Paramount’s operations.
9. How has the industry reacted to the news?
   Analysts have generally welcomed the idea of stronger centralized leadership but warn that internal resistance and execution risks remain.
10. What happens next?
    After the merger closes, Ellison is expected to announce a new executive lineup and reveal his broader strategy for integrating Skydance and Paramount’s assets.

Conclusion

David Ellison’s reported plan to eliminate Paramount’s three-headed CEO structure reflects his determination to modernize the studio and streamline its operations. The move could mark a turning point for Paramount as it seeks to compete in an entertainment landscape increasingly dominated by technology and consolidation.

If successful, Ellison’s leadership could usher in a new era for Paramount—one where tradition meets innovation, and Hollywood’s legacy brands adapt to the demands of the digital age.