Paramount Global, facing $2 billion in cost cuts, undergoes a massive reboot led by Skydance CEO David Ellison. This includes a new Naked Gun film starring Liam Neeson, directed by Akiva Schaffer. Ellison's takeover, supported by the Trump administration and Shari Redstone, raises questions about his experience running such a large media conglomerate and his commitment to unbiased journalism, particularly given his father's ties to Trump. The acquisition involved a complex history of corporate battles and financial maneuvers, highlighting the challenges facing the newly formed Paramount Global.

Prepared by Emily Rhodes and reviewed by editorial team.