David Ellison races to rebuild Paramount’s content empire
Just weeks after completing Skydance Media’s takeover of Paramount, CEO David Ellison has wasted no time reshaping the storied studio into a bigger player in the global media landscape.
Within days of the merger closing, Ellison’s team secured distribution rights for a James Mangold heist film starring Timothee Chalamet and inked a seven-year, $7.7 billion deal for exclusive U.S. streaming and broadcast rights to the Ultimate Fighting Championship (UFC) beginning in 2026. That blockbuster deal builds on a previous $1.5 billion pact with “South Park” creators Trey Parker and Matt Stone, News.Az reports, citing Reuters.
Ellison, 42, son of Oracle billionaire Larry Ellison, has set his sights higher: a potential bid to acquire Warner Bros Discovery, home to HBO, CNN, TNT, Warner Bros studios, and Warner Bros Games. A merger would unite Paramount’s classics like The Godfather and Star Trek with Warner Bros’ extensive catalog.
Ellison has also raised eyebrows with high-profile hires. He recently appointed Kenneth Weinstein, a Trump ally and former Hudson Institute chief, as ombudsman of CBS News, and has reportedly held talks to acquire The Free Press to bring its founder Bari Weiss into a leadership role at CBS.
Some analysts suggest Ellison could be building a conservative media powerhouse rivaling Rupert Murdoch’s empire, while others argue he is more focused on winning political goodwill to ease regulatory approval for future deals.
What sets Ellison apart from other media moguls is his Silicon Valley background. He grew up coding at Oracle, absorbed lessons from Pixar co-founder Steve Jobs, and now envisions Paramount as a “tech-forward company” blending Hollywood creativity with technological innovation.
Ellison’s rise has been anything but smooth. His first financed film, Flyboys (2006), was a flop. But persistence paid off with Oscar-nominated True Grit (2010) and subsequent hits like World War Z, Star Trek, the Mission: Impossible franchise, and Top Gun: Maverick.
“He’s an owner-operator who actually loves film and television and stories,” said Bryan Lourd, CEO of Creative Artists Agency. “That is needed now more than ever.”
With deep pockets and an ambitious vision, Ellison is now racing to build a sprawling sports, news, and entertainment empire that could redefine Paramount’s place in Hollywood – and beyond.
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