Reports allege, a media and entertainment company founded by David Ellison, son of Oracle co-founder Larry Ellisonskydance, has acquired National Amusements, which holds a 24% stake in Paramount, for US$77 billion, thereby indirectly obtaining the main operating rights of Paramount. David Ellison has also become the new CEO of Paramount.
The acquisition and merger is expected to be completed in 2025, when the combined Paramount's market valuation will increase to US$280 billion.
After David Ellison took over Paramount's operations, the plan was to transformBecoming a media and technology companyAt the same time, it will continue to invest in the development of its streaming video services and will rebuild the related technologies behind the Paramount+ service, improving the content recommendation algorithm through modern infrastructure, making it easier for users to find suitable programs to watch.
In addition, David Ellison also plans to use Oracle's technical resources to reduce operating costs and improve service efficiency. The new version of Paramount+ service is expected to be bundled with other streaming video services, allowing users to subscribe to multiple streaming video services at relatively affordable prices. The new president, Jeff Shell, revealed that he has already contacted various potential partners and may further sign cooperation agreements to expand the scale of existing services and achieve profit goals more quickly.
