Longtime Ellison lieutenant Dana Goldberg will run Paramount Pictures with former Sony executive, Josh Greenstein. Only one senior Paramount executive -- George Cheeks -- will remain after this week's Skydance takeover.

David Ellison, an actor-turned-producer and son of centibillionaire Larry Ellison, will helm Paramount after its merger with his Skydance media company is complete.

Chairman and CEO David Ellison and president Jeff Shell will preside over three segments, with former Netflix vice president of original content, CEO of Sister, and recent Skydance advisor Cindy Holland leading the streaming business; Josh Greenstein and Dana Goldberg overseeing studios; and George Cheeks in charge of TV media.