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Paramount and Skydance will merge to create new tech-media giant

David Ellison, the new chief executive of Paramount, has big plans for the media giant and wants to turn it into a "media and technology" company, according to the Financial Times.

Ellison is taking over as Paramount's boss after his production studio, Skydance Media, agreed to acquire the company behind massive films and franchises like The Godfather, Top Gun, Mission: Impossible and Star Trek. He's planning to rebuild Paramount+'s technology and use modern infrastructure to improve its recommendation algorithm that helps users find new shows. Jeff Shell, who's going to become the combined company's president, told the Times that Paramount+ is going to team up with other streaming services and enter bundling agreements.

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