Ellison says Paramount will become ‘media and tech’ giant, FT reports

David Ellison wants to transform Paramount (PARA) into a modern media and technology giant that is capable of challenging Netflix (NFLX), James Fontanella-Khan, Christopher Grimes, and Anna Nicolaou of The Financial Times reports. Ellison told the Times Paramount needs to move faster to adapt to technological shifts, from streaming to AI. “We recognize the transition that the broader industry is going through,” said Ellison. “In order to effectively navigate this transition, what is required for Paramount as a pure-play media company is to transition to becoming a media and technology company.”