Paramount is preparing a bid for Warner Bros. Discovery, The Wall Street Journal reported. It would create a new Hollywood superpower.

David Ellison, son of the richest man in the world, is Hollywood's billionaire filmmaker and a CEO worth more than $500 million.

Just a week after the UFC announcement, Ellison unveiled another coup: a four-year partnership with Matt and Ross Duffer, the creative duo behind Stranger Things. Starting in 2026, the brothers will develop films and series through their Upside Down Pictures banner for Paramount Pictures, Paramount Television and Paramount+.

David Ellison has been on a spending spree since he took over Paramount a few weeks ago. His dad's massive wealth makes that easier.

"We're ready to move past the noise," the new Paramount Skydance CEO said, as reporters lobbed questions about Trump, '60 Minutes' independence, artificial intelligence, 'The Late Show' cancellation and FCC maneuvering.

David Ellison ordered Paramount staff back to full-time office work, citing collaboration needs while providing severance packages for those unable to make the transition.

One week on the job, tech scion David Ellison is settling in at the Paramount lot after his family took over the century-old studio.

Oracle chairman and co-founder Larry Ellison, the father of Paramount Global's new owner David Ellison and a major investor in the media company after its merger with Skydance, just saw his wealth soar by over $100 billion.