The news following David Ellison these days looks more like a perpetual dark cloud. The Paramount Skydance CEO has an uphill battle to win over an industry that has seen increasing uncertainty for many years. Ellison’s next moves will impact thousands of industry employees, not to mention millions of viewers. The hostile acquisition of Warner Bros. has also found shaky ground overseas, where Middle East funds backing the $110 billion deal are now in question. Hollywood has been fearfully hanging onto every word, press release, and rumor coming out of Paramount Skydance for weeks.
Ellison and Paramount Chief Operating Officer Andy Gordon came to Warner Bros. headquarters yesterday to meet with about 200 executives from the studio’s film, TV, and HBO Max areas. The gathering was held in the Steven J. Ross Theater on the Burbank lot. “We were hoping for more,” is the headline coming out of the meeting. WBD knows that Paramount is looking to cut at least $6 billion in costs, but little is known as to where the axe will fall. The 42-year-old Ellison spoke in front of heavyweight leaders like Pamela Abdy and Mike De Luca (of WBD motion pictures), Channing Dugney (TV group chief), Casey Bloys (HBO), JB Perrette (streaming), and Peter Safran (DC).
What amounted to mostly introductory chatter and high praise of the art of storytelling, Ellison dismissed talk of mass layoffs that have surrounded Paramount Skydance throughout the bidding process. “We don’t believe him,” one executive told The Hollywood Reporter. Ellison reiterated his promise to release 30 films theatrically between the two studios, something that wasn’t news to anyone in the room, even if some were cautiously optimistic about Ellison’s passion. Others were happy to hear that there was no intention to overhaul CNN, as the network would retain its editorial independence. Ellison came off as well-spoken and genuine, all good attributes of a promising Hollywood mogul.
Another executive told Variety, “It was good there were no surprises.” Ellison was careful not to drop any bombs, looking instead to speak with leaders at both companies before making any decisions. Even after news about combining Paramount+ and HBO Max, Ellison was clear that the two teams would work together to optimize the strengths of both services. Many are hopeful that Ellison’s interest in studio history will keep his eyes on preservation (of lots and jobs). Paramount employees recently saw Tom Cruise on the Melrose Ave. lot filming a documentary celebrating the studio’s history while promising a “brand new day.” Still, there is a long way to go before we can justify comparisons to Hollywood history’s most famous “boy wonder,” MGM’s Irving Thalberg, who helped the Golden Age dream factory become the lot “with more stars than are in heaven.”
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