Ellison and his top executives hosted a meet-and-greet with journalists on the storied Melrose Lot Wednesday to further discuss their plans for Paramount Pictures and CBS.

One week on the job, tech scion David Ellison is settling in at the Paramount lot after his family took over the century-old studio.

Hours after the Skydance-Paramount merger closed last Thursday, the new studio leadership group led by co-Chairs Josh Greenstein and Dana Goldberg sent a loud message to the town that they meant business,

Paramount Skydance was the biggest gainer and one of the most active stocks in the S&P 500 on Wednesday. A flurry of excitement around the recently formed media conglomerate is sending shares skyrocketing.

Paramount Skydance emerged as a potential meme stock on Wednesday, with the shares soaring 60% during the session.