Judging by the market reaction to David Ellison's layoffs, his plan for Paramount alongside his lack of CEO experience, poor, risky decision making in the past and letting one of the best content creators walk into Universals arms, I think he has two years at best before he either sells up or he is ousted.
Also depends on Trumps dictatorship bid in a few years.
I came across his post and it was funny to the original poster, David’s not going anywhere. He literally bought Paramount. He wasn’t an outsider appointed by a board or he wasn’t a successful CEO elsewhere that was brought in to fix Paramount.
He literally purchased a movie studio with his father’s money and his father‘s friends (Trump) and trying to purchase another to ensure he has lasting IP.
What I could see happening is that Jeff Shell can be a casualty and David will be minimized in his creative decision-making, and be elevated to some sort of executive chairman post where they will have some industry veteran come in to fix whatever problems that David may have created under his regime.
Skydance wasn’t very successful, they had internal mismanagement, overspending, many costly missed deadlines especially in Animation and Gaming and other financial concerns that would have bankrupted many other companies if it weren’t for the Ellisons wealth.
How much did that new office cost only not to be needed with all the Paramount real estate. But real estate is the Ellisons forte so they will hold on to that valuable Santa Monica property.
Since Skydance wasn’t public those financial issues never needed to be disclosed and since Skydance purchased Paramount, once again the financial shortcomings wouldn’t be disclosed by RedBird or Bane, the diligence was to evaluate Paramounts books. The earning results that are coming out on the 25th will be very interesting to see what’s happened since David has taken over but he’ll be there for the long haul.
@OP The Ellison family controls the company. So, DE can only be ousted by an E... And do you think things would be better if they had stayed the same under the previous controlling shareholder? I think not. We'd be going through the same turmoil. At least the Ellison family brings with it new capitalization and a new start. The layoffs were inevitable either way. DE has good experience, has a long term vision, and has the financial resources to move the company forward.
@br I hope that's true for the sake of the entire industry if he ends up getting WBD as well. Some of the decisions we've been seeing have been baffling to say the least.
2 Years? Thats only 4 more rounds of layoffs until the sell off and then endless rounds of layoffs.
They have really been keeping JS in the shadows. Haven’t heard sh-t all from him so far internally.
2 years ?? So many dreadful senior leaders in PR worked longer than that which they should have been laid off sooner. And don’t be a fool it’s really his dad that’s behind the merger and the company will be successful in a few years ahead. Going up for sure. Seat and watch this happens and good for them.
Um, in case nobody noticed - these people don't leave - you do. As mentioned Sumner & Shari Redstone, Rupert & Sons Murdoch, Chuck & Sons Dolan, on & on and now Larry & David Ellison, get used to it. YOU give David Ellison 2 Years? YOU give HIM 2 years??? Who are you exactly????
@br I have heard the same things. Hopefully he gets better people around him. The whole let’s put people in the office 5 days a week is such a red bird thing.
Lol - who is this? Seriously??? You never heard of Sumner Redstone & Shari Redstone??? Wow - think before you post & make a fool of yourself. You're saying David Ellison is inferior than Shari redstone and he won't last anywhere near As long as her.... Lol, because thats what your saying. OMG
I have spent time with DE and his leadership team. He is a good guy and means well BUT he is 100% a child playing in an adults world. He cares about cool things while JS and AG are terrible people who only care about cost cutting. They come from redbird and don’t know how to run a real company. Sure JS has experience but he was hated in his last role. All the bad decisions that have been made start with AG. DE agrees with them because he has no experience. Wait till people see the people under AG and what they are doing. They are basically running the company with no experience in media. This place is doomed unless DE grows up and kicks these dopey red bird people out and he gets better advisors.
@a3 oh being rich doesn't stop you being incompetent. He will always be rich even when he sells Paramount but even the richest CEOs do not have all the time in the world. The investors come for them eventually.
Their will be a lot of wasteful mistakes that old management wouldn’t make or be able to afford, but it’s not gonna bankrupt the rich as others have noted
@a3 shareholders won’t care. Bad biz is bad biz
Well I was looking for a stupid take. Thanks. He owns the company and his father is the richest person on the planet. He has all the time in the world.