Skydance Media has finalized its $8 billion acquisition of Paramount Global, leading to a significant restructuring under incoming CEO David Ellison. The company will now operate through three new units: studios, direct-to-consumer, and TV media. This restructuring aims to enhance efficiency as they transition to a unified technology platform. Ellison outlined that such changes would reduce technology expenses, increase performance, and empower leadership decisions. He envisions a tech-forward approach for the newly formed Skydance Corporation, focusing on innovative efficiencies across the enterprise.
In an open letter about his plans for Paramount, incoming chairman and CEO David Ellison announced that the business will be split into three distinct units: studios, direct-to-consumer, and TV media.
Ellison explained that the restructuring is meant to boost efficiency as the new company prepares to transition its entire enterprise to a single technology platform for the first time.
Ellison stated, 'In doing so, we will be able to reduce our technology spend while driving substantial efficiency and performance gains and enabling leaders across the company to make faster and better decisions.'
He emphasized his vision for Paramount as a 'tech-forward company' that will adopt innovative strategies to enhance its operations.
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