This week marks the return of the ‘Naked Gun,’ as Paramount Global prepares to release its reboot, simultaneously signaling a significant transformation within the studio itself. The original trilogy, which humorously depicted a series of blunders over nearly four decades, concluded with ‘The Final Insult.’ Amid this cinematic revival, Skydance’s CEO David Ellison has announced an $8 billion takeover, reflecting a commitment to renewal that appears to be endorsed by the Trump administration.
However, within Hollywood, discussions abound regarding the challenges of revitalizing a studio entwined with CBS, Comedy Central, MTV, and other cable networks. At just 41 years old, Ellison is optimistic, confidently stating, “technology will transform every aspect of this company.” He envisions a “studio in the cloud,” harnessing AI and digital innovations for faster, more cost-efficient content creation.
Unlike his predecessor David Zaslav at WarnerMedia, who undertook a vigorous tour of Hollywood’s creative landscape, Ellison has adopted a quieter approach. He entrusts much of the public attention to his father, billionaire Larry Ellison, with no indication that Larry is familiar with ‘Naked Gun.’
As a fan of the Zucker Brothers’ comedies like ‘Naked Gun’ and ‘Airplane!,’ I am curious about Liam Neeson’s ability to portray Frank Drebin Jr., the son of the iconic character originally brought to life by Leslie Nielsen. Directed by Akiva Schaffer, the current version replaces Jerry Zucker, now 80 years old.
Both Neeson and Nielsen hold significant places in Hollywood history, with Neeson’s notable role in ‘Schindler’s List’ and Nielsen’s portrayal of the captain in the doomed ‘Poseidon.’ The recently formed Paramount Global could use a dose of humor while navigating a necessary $2 billion in cost reductions and restructuring, a task that will involve Jeff Shell, the ex-president of NBCUniversal.
Ellison’s experience contrasts sharply with Paramount’s vast structure; Skydance employs 1,300 individuals compared to Paramount’s 18,000. He has yet to engage with the intricate world of news media entities like ’60 Minutes’ or ‘Face the Nation,’ nor has he addressed the challenges of resuscitating morning or evening TV ratings.
The impact of Larry Ellison’s friendship with Donald Trump looms over David, as does speculation regarding his interest in acquiring The Free Press, a right-leaning outlet that positions itself against mainstream journalism. David Ellison has largely avoided high-profile political or religious associations, and even his surname raises questions about its origins, with ties possibly stemming from Ellis Island instead of traditional roots.
The Ellison family’s control over Paramount was facilitated by support from Shari Redstone, the controlling shareholder, as part of a larger struggle against Barry Diller in a fierce proxy battle for media control. The clearance of the Skydance offer by the FCC, which rested on David’s commitment to impartial journalism, coincided with a $16 million settlement that Paramount reached in relation to a lawsuit involving ’60 Minutes.’
For David Ellison, the Hollywood journey began with a desire to star in ‘Flyboys,’ a World War I film that ended up grossing only $17 million— a stark departure from its $60 million budget. This experience prompted his shift from actor to studio chief, and with the support of RedBird and investor Gerry Cardinale, Skydance has grown to a valuation of approximately $4 billion before pursuing bigger ventures.
In the spirit of humor, the klutzy cop Drebin once remarked to his wife, “Look, baby, I do what I do. Some guys make shoelaces or lay sod. I make a living.” Indeed, David Ellison appears to be carving out his own path in the industry.
