Ellison gives an outline of vision for new paramount with a focus on content and technology

* Ellison plans to reorganize paramount into three business units to integrate technology to strengthen creativity, and do not replace it * Ellison recognizes CBS News Journalists by Dawn Chmielewski Los Angeles, August 7 (Reuters) -Paramount’s new chairman and CEO David Ellison, a plan to have the century-old entertainment turned into an opening letter in the completion of the century-old entertainment company in a technology-driven media in a disclosure in a disclosure in completing the century-old entertainment company in a technology-driven media in a disclosure in an opening letter in a public entertainment company in a technology-driven media. merger with Skydance Media. Ellison said the company would work to transform paramount by investing in growth businesses anchored in its storytelling to scale its streaming business worldwide and reorganizing the business to make it more efficient. “We are in the midst of a generation change in our industry – and we understand that Paramount faces its own important challenges, exacerbated by the reality of a merger process extended over a significant period,” Ellison wrote. “But the time of uncertainty is now behind us. We will continue with conviction and optimism to turn paramount into a technical forward enterprise that mixes the creative heart of Hollywood with the innovative spirit of Silicon Valley.” Paramount Global and Skydance Media completed their $ 8.4 billion merger on Thursday, announced more than a year ago, which was a long stretched transaction process characterized by political investigations and shareholders. Ellison said he plans to reorganize paramount in three business units studios, direct-to-consumer and TV media to speed up decision-making. He plans to move the business to a single technology platform to reduce costs, and says the company will find efficiency associated with labor, real estate and acquisition, with the aim of reaching a $ 2 billion cost saving. New Paramount will direct resources “to what Matters most,” Ellison wrote, delivering more films, television series, sports, news and games to world audiences. Paramount will utilize technology, not as a substitute for human creativity, but as a tool to strengthen creativity. “From virtual production phases that unleash the unlimited imaginations of the filmmakers, to AI-supported localization that brings overnight to new language markets, to its own ad-tech stack that maximizes the return on streaming and linear platforms, we will integrate these instruments into every aspect of our work. Ellison said the company would prioritize its streaming business, increasing the investment in high-quality exclusive content, which he calls the ‘single largest driver of subscribers’ growth’. Sports is a key component of the streaming strategy, as a tool to retain and hold subscribers. The company plans to move its subscription stream service, Paramount and its free advertising-supported PlutotV service on the same technology, to help save money and improve consumer experience. Ellison set out the company’s core obligations, including the CBS News Division. He acknowledged the journalists ” unwavering commitment ‘to the news industry, adding:’ We are very proud of CBS News ‘legacy of impactful journalism and is looking forward to continuing to promote a news chamber culture where journalists are empowering, trusting and equipping to do their best work.’ In his attempt to get regulatory approval of the merger, Skydance told the Federal Communications Commission that he would appoint an ombudsman to evaluate complaints of editorial bias or other concerns about CBS. It also assured that they were committed to unbiased journalism. Democrat Anna Gomez, the FCC discount, accuses paramount of ‘cowardly capitulation’ to the Trump administration. She also said that the FCC “has never seen the decisions about the news room before.” (Editing by David Holmes)