David Ellison’s Ambitious Plans for Paramount: A One-Month Review
Four weeks into his tenure as CEO of the newly merged Paramount Skydance Corporation, David Ellison has wasted no time putting his stamp on the company. Since formally taking the reins on Aug. 7, the 42-year-old mogul has moved at breakneck speed—striking billion-dollar deals, wooing creative talent, greenlighting major franchises, and even courting a controversial media startup.
David Ellison is betting big on sports, streaming, gaming and bold hires. Kevin Winter/GA/The Hollywood Reporter via Getty Images
Strategic Moves and Partnerships
Ellison promised to transform the legacy studio into a “tech-forward company that blends the creative heart of Hollywood with the innovative spirit of Silicon Valley,” he said in a strategy memo last month. This vision is already taking shape through several key moves.
The UFC Deal: A Major Win for Paramount
On Aug. 11, Ellison announced a blockbuster $7.7 billion agreement making Paramount the exclusive U.S. home of the UFC mixed martial arts organization beginning in 2026. The deal will move UFC away from its pay-per-view model and deliver its lineup of annual events directly to Paramount+ subscribers, with some simulcast on Paramount-owned CBS.
“Live sports continue to be a cornerstone of our broader strategy,” Ellison said when unveiling the deal. “The addition of UFC’s year-round must-watch events to our platforms is a major win.” This move aims to bolster Paramount+’s subscriber base, which currently stands at 77.7 million, trailing behind competitors like Netflix and HBO Max.
Streaming and Creative Talent
Adding to the strategy, Ellison recently tapped Cindy Holland, the former Netflix executive who helped drive its early growth, to oversee all of Paramount’s streaming efforts. This hire underscores Ellison’s commitment to attracting top talent and leveraging their expertise to propel Paramount forward.
Just a week after the UFC announcement, Ellison unveiled another significant partnership: a four-year deal with Matt and Ross Duffer, the creative duo behind Stranger Things. Starting in 2026, the brothers will develop films and series through their Upside Down Pictures banner for Paramount Pictures, Paramount Television, and Paramount+.
Gaming and Entertainment Expansion
Ellison, an avid gamer, is also pushing Paramount into video game IP. On Sept. 2, the company announced a live-action feature film adapted from Activision’s Call of Duty franchise, which has sold over 500 million copies worldwide. This project is seen as a “dream come true” for Ellison, who likened it to Paramount’s 2022 blockbuster Top Gun: Maverick, pledging the same level of commitment to excellence.
Furthermore, a multi-year global distribution deal with Legendary Entertainment was announced, with their first collaboration being a Street Fighter film in 2026, co-produced with Capcom and filmed for IMAX. These moves demonstrate Ellison’s aggressive expansion into gaming and entertainment, aiming to capitalize on popular franchises and attract new audiences.
Courting Controversy with The Free Press
Among Ellison’s whirlwind first-month moves, none has drawn more controversy than his reported bid to acquire Bari Weiss’s The Free Press and bring her into a senior role at CBS News. While talks are reportedly intensifying, the possibility has already sparked backlash from some CBS News staffers, who are concerned about the potential politicization of the network.
Return-to-Office Policy and Cost-Cutting Measures
Ellison’s opening month hasn’t been without challenges. The CEO rolled out a return-to-office policy effective January next year, requiring employees to be in the office five days a week. Buyouts are available for those unwilling to commute or relocate, effectively making the policy an early step toward downsizing ahead of deeper layoffs this fall.
Ellison framed the move as vital for fostering creativity and collaboration, but for many employees, it signals another round of cost-cutting measures. In his August strategy memo, he promised to make Paramount “leaner, faster, smarter and more agile” with $2 billion in cost cuts, redirecting resources to premium storytelling and streaming.
Conclusion and Future Outlook
The next few years will be crucial in determining whether Ellison’s vision for Paramount can be realized. As he navigates the complexities of the entertainment industry, his ability to balance creative ambitions with financial realities will be closely watched. With his aggressive expansion into sports, streaming, gaming, and bold hires, Ellison is undoubtedly making a significant bet on the future of Paramount.
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Image Source: observer.com
