Ellison’s Plan to Fix Paramount Includes Technology Upgrade
- Sports, kids shows and a big library are Paramount’s strengths
- Partnerships, better use of technology are also on tap
When investors look at Paramount Global, they see a distressed company in decline. David Ellison sees a rare opportunity to own one of Hollywood’s original studios.
The 41-year-old son of technology billionaire Larry Ellison has spent months pursuing a takeover of the TV and film giant, overcoming a shareholder revolt and opposition from Paramount leadership, as well as the occasional reluctance of controlling shareholder Shari Redstone to part with the business. Ellison persisted, drawn by Paramount’s century-old film library, the most-watched US broadcast network, CBS, and one of the leading producers of kids programming in the world with Nickelodeon.