Paramount Skydance CEO David Ellison has been moving fast to transform the company into something he promises will be leaner and more agile, which could make it unrecognizable.

The restructuring comes two and a half months after David Ellison's Skydance Media completed its acquisition of Paramount.

David Ellison has the deepest pockets in Hollywood. Sheridan has the best track record in streaming. Why the most obvious deal in TV didn't happen.

Warner Bros. Discovery, on the other hand, is now officially for sale. Comcast, Apple, and Netflix are all interested in making takeover approaches, and Warner Bros. Discovery CEO David Zaslav and the board have started a formal assessment of these bids.

Barry Diller, the entertainment mogul who led Paramount for a decade in its heyday, said in an email, “Most people, coming into senior executive positions, on scrutiny, fail to impress. David Ellison, on scrutiny, continues to impress.”

Paramount CEO David Ellison wants to merge the content library of HBO Max into Paramount Plus, according to a report published this week.

With the president’s blessing, the Ellisons’ Skydance merged with Paramount, gaining control of CBS News. Now the new giant might gobble up Warner Bros. Discovery, which includes CNN.