Ellison races to rebuild Paramount

Tech background influences his vision

- DAWN CHMIELEWSKI

Hours after his company’s merger with Paramount closed in August, CEO David Ellison's empire-building kicked into gear. His studio chiefs announced they had won a bidding war to distribute a new James Mangold heist film starring Timothee Chalamet.

Days later came a blockbuster seven-year, $7.7 billion deal for exclusive US streaming and broadcast rights to the Ultimate Fighting Championship, beginning next year. The UFC deal built upon an earlier $1.5 billion agreement with South Park creators Trey Parker and Matt Stone for global streaming rights to their adult animated series, signalling Ellison’s willingness and ability to pay top dollar for premium content across multiple genres.

Since Skydance Media's takeover of Paramount, the 42-year-old son of Oracle billionaire Larry Ellison has moved at breakneck speed to transform the storied studio into something far more ambitious: a sprawling sports, media and news empire that marries Hollywood’s creative muscle with Silicon Valley’s technological prowess. His father, the second richest person in the world, gives him the financial power to implement big ideas.

“Legacy media kind of swam out to the middle of the lake and wasn’t exactly sure how to get to the other side,” Mr Ellison said during a recent briefing on the Paramount Pictures lot. “We're gonna get to the other side of the lake.”