What comes next for Paramount Global will be big -- one way or another -- no doubt resulting in major impact as well as eye-opening glances from analysts.
This is expected now that former -- and fired -- NBCUniversal CEO Jeff Shell is in charge of Paramount Global
CNBC says after speaking with a number of NBC-ers, who worked for Shell between 2019 and 2023, he looked to promote big, potentially groundbreaking ideas -- one of which include giving the 10-11 p.m. primetime time hour back to NBC affiliates.
Lots of this stuff ended up essentially being a “shoot first and aim later” approach, according to one executive. That said, another executive in the report also says that David Ellison, CEO of Skydance Media, which will take control over Paramount Global should it get through a Federal regulatory process, is a “blow-everything-up-guy.”
Skydance’s initial vision -- as a broad overall plan -- is to make Paramount Global a “modern media company.”
But what does it actually mean? Be more like Amazon, Google, Netflix, or perhaps X?
Maybe it’s something close to home.
Shell’s overall vision could end up sounding somewhat familiar to some: Shrink the company.
This is what Fox Corp. did five years ago -- perhaps reading the writing on the wall back then that big digital-first media companies will be ruling the media universe in a big way slowly but surely.
Fox Corp. believes selling off half of the company to Walt Disney (TV and film production, niche cable networks, and regional sports networks) -- and focusing on news, sports, its core broadcast TV network, and a free ad-supported streaming channel (Tubi) -- continues to be the right approach.
Five years after its announced deal in March 2019, it survives and thrives as a smaller and vibrant media company.
Believe Shell and Ellison will be doing a version of this at Paramount.