Ellison is set to serve as the future chairman and CEO of the Paramount studio. Former Paramount Pictures head Sherry Lansing is proposed to sit as an independent director, while Oracle Corp CEO Safra A. Catz, whose company is aligned with former CEO Larry Ellison, father of David Ellison, is also tapped for the new boardroom.

Longtime Ellison lieutenant Dana Goldberg will run Paramount Pictures with former Sony executive, Josh Greenstein. Only one senior Paramount executive, George Cheeks, will remain after this week's Skydance takeover.

Cindy Holland, former Netflix Head of U.S. Scripted TV and former Global CEO of Elisabeth Murdoch and Jane Featherstone‘s Sister, will be the head of DTC, Paramount+ and Pluto. Sources tell us she’ll report directly to Ellison.