Ellison Family's Hollywood Merger: Larry and David Build Paramount Empire

The Paramount-Skydance Merger

• 🚀 The $8 billion merger between Paramount and Skydance Media was approved by the FCC after 1.5 years, set to finalize on August 7th.
• 💡 This deal creates a new Hollywood empire, bringing over 1,200 film titles, 2,400 distribution rights, and channels like MTV, Nickelodeon, Showtime, and CBS News under one control.

Ellison Family's Leadership

• 👨‍👩‍👧‍👦 Larry Ellison (80) and his son David Ellison (42) will be the most powerful figures, with Larry as chairman/CEO and David holding 50% of voting rights.
• 💰 While David steers as CEO, Larry retains significant equity and influence, with David needing his father's approval for major decisions like budgets and investments.
• 🤝 The Ellisons' relationship with Paramount dates back to 2008, with Skydance (co-founded by David) having long-standing ties to the studio.

Regulatory Conditions & Concessions

• ✅ To secure approval, Paramount paid President Trump $16 million to settle a lawsuit regarding a 60 Minutes interview.
• ⚖️ Skydance committed to ensuring its programming represents a diversity of viewpoints and to rooting out bias in national news media.

Major Changes at CBS News

• 🚨 The merger has sparked anxiety within CBS News due to two controversial changes: the installation of an ombudsman and the elimination of DEI policies.
• 🔍 An ombudsman will monitor for perceived bias, reporting directly to Skydance CEO David Ellison, bypassing the normal chain of command.

Reversal of DEI Policies

• 🚫 Skydance explicitly committed to dismantling existing DEI initiatives at Paramount, replacing them with "merit-based recruitment" and discontinuing race/gender-based hiring benchmarks.
• 🔙 This marks a dramatic reversal for CBS, which previously had strong diversity goals, including specific quotas for BIPOC participants and writers in its programming.
• 📺 The decision to end Stephen Colbert's Late Show in 2026 has raised eyebrows, coinciding with the merger and the network's shift away from DEI principles.