David Ellison will take full control of Paramount Global when it merges with his company Skydance Media, according to a new regulatory filing.
After the deal closes in the first half of 2025, Ellison’s role will be president and CEO of the new Paramount combining the assets of Hollywood production company Skydance and Paramount, home of CBS, Showtime and MTV, according to a Federal Communications Commission filing amended Tuesday. ,
The filing said Ellison will keep 100% of his family’s voting interest — a clarification that has come amid potential concerns Control resides with his father, billionaire Oracle co-founder and CEO, Larry Ellison.
An earlier version of the filing, which concerns the transfer of broadcast licenses for nine television stations, showed Larry Ellison at the top of a chart detailing Paramount’s post-transaction ownership structure.
Skydance, with partner Redbird Capital, achieved a merger agreement with Shari Redstone in August,
Larry Ellison is Skydance’s main backer and investor in the Paramount acquisition. As a result, the family will control the majority – 77% – of the merged company.
The amended FCC filing clarifies the way in which the Ellison family will control voting interests in what is being called the “new Paramount” and the Redstone family’s holding, National Amusements, which controls the media firm.
Once the deal closes, David Ellison will take the reins as Paramount’s chairman and chief executive, the filing said.
He would also become the “sole manager” of the Ellison family entities (Hikouki, LLC, Furato, LLC, and Azora, LLC), through which the Ellison family would own and control NAI and New Paramount.
As sole manager of these entities, “David Ellison will hold 100% of the Ellison family’s voting interests in NAI and New Paramount, in addition to serving as President and CEO of New Paramount,” the filing said.
Redstone began purchasing from Paramount last year Entertained a handful of potential contenders It became a long, drawn out process that began in late summer Skydance is coming out on top,
Ellison is expected to work closely with his father and his company, Oracle, to help shape their vision of a media-technology hybrid entertainment company.
