Ellison spoke with CBS journalists on his first day, acknowledging the stresses of the past year and touting the importance of “fact-based journalism,” a person in attendance said.

On Thursday morning, David Ellison will clock in for his first day at work as a media mogul. That’s when Ellison’s Skydance will officially get the keys to Paramount Global — the Sumner Redstone-created corporate giant whose falling fortunes come as streaming services and YouTube have spun the industry off its axis.

Skydance Media has finalized its acquisition of Paramount, giving the company a 70% economic stake and 100% voting control, according to Barron's. David Ellison, son of Oracle co-founder Larry Ellison,