Paramount’s new chairman and CEO, David Ellison, plans to transform the company into a tech-driven media enterprise. The $8.4 billion merger with Skydance Media has been completed, marking a new era for Paramount. Ellison aims to streamline operations, invest in streaming, and prioritize high-quality content for global audiences.

Ellison outlined a plan to reorganize Paramount into three business units and move onto a single technology platform to reduce costs. The company will focus on delivering more movies, TV series, sports, news, and games to audiences worldwide. Technology will be used to amplify creativity, not replace it, with a goal of achieving $2 billion in cost savings.

Paramount will prioritize growing its streaming business by investing in exclusive content and sports. The company plans to integrate Paramount+ and PlutoTV onto the same technology platform to improve the consumer experience and save money. Ellison also reaffirmed the company’s commitment to CBS News, emphasizing the legacy of impactful journalism.

In gaining regulatory approval for the merger, Skydance pledged to appoint an ombudsman to address complaints of editorial bias at CBS. Democratic FCC dissenter Anna Gomez criticized Paramount for yielding to the Trump administration and accused the FCC of imposing unprecedented controls over newsroom decisions. The future of the merged Paramount Global remains under scrutiny.

Read more at Yahoo Finance: Ellison outlines vision for new Paramount with focus on content and technology