Ellison's Paramount to make films for large screens rather than streaming platforms

Jason Mendez/Getty Images Entertainment

David Ellison's Paramount (NASDAQ:PSKY [https://seekingalpha.com/symbol/PSKY]) will focus on making movies for large-screen experiences as the new company aims to become the top name in the filmmaking business.

According to a report by _The Hollywood Reporter, _Ellison told journalists during a meet-and-greet on Wednesday that he is currently prioritizing original titles and franchises like _Top Gun_, _Star Trek_, and _World War Z_, among other notable names, to realize his ambitions.

Ellison expressed his interest in making _Top Gun 3 _as long as A-list star Tom Cruise was willing to work with him. Cruise so far has made ten films with Skydance before the Paramount merger.

"One of our biggest priorities is restoring Paramount as the No. 1 destination for the most talented artists and filmmakers in the world," Ellison said at the press conference. “Great filmmakers make great movies.”

The LA pressser was attended by the new Paramount executives, who seemed to share the new CEO's vision.

Former Netflix executive Cindy Holland, currently overseeing Paramount+, made a bold claim that streaming movies are "not a priority" for her, while backing up Ellison and his dream for the big screen.

Having said that, Holland clearly pointed out that the company is seriously looking for ways to expand the content menu for Paramount+ beyond current options to ensure that programming is suitable "for everybody, not just occasionally and not just for the one thing they want to come back for.”

"We want to entertain all audiences around the world on Paramount+,” she said.

Ellison also notably praised _Yellowstone _creator Taylor Sheridan and his role in keeping the namesake streaming service relevant until now.

"He is literally a singular genius with a perfect track record. If we can make this his home as long as he wants to tell stories, we want to do that," Ellison said.

On _Star Trek, _Paramount_ _executives said that the franchise would be looked at holistically rather than siloed off between film and TV.

“We’re going to make sure those conversations are happening together so that we can do what’s best for the brand as a whole,” said film co-chief Dana Goldberg.

Goldberg also said the company would emphasize family films like _The_ _Goonies _and _The Night at the Museum_ franchise as "north stars." "We’re going to run towards those movies," she said.

PSKY shares are down 6% in afternoon trading on Thursday.

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