David Ellison, the new CEO of Paramount-Skydance, is steering the studio toward a theatrical revival, with Top Gun 3and Star Trek as top priorities. Speaking at a press event on August 13, 2025, at Paramount’s Melrose Lot, Ellison outlined plans to restore the studio as a premier destination for filmmakers. Top Gun 3, following the $1.5 billion success of Top Gun: Maverick, is a key focus, with Ellison emphasizing his long-standing collaboration with Tom Cruise. Star Trek, absent from theaters since 2016, will see a unified approach across film and TV, led by co-film chief Dana Goldberg.

Ellison’s vision includes scaling up to 15-20 theatrical releases annually, revitalizing franchises like Transformers, G.I. Joe, and World War Z, while also greenlighting originals like the Timothée Chalamet-led High Side. Paramount+ will prioritize high-quality content, with Yellowstone creator Taylor Sheridan hailed as a “singular genius.” Backed by Hollywood veterans like Jeff Shell and Cindy Holland, Ellison aims to blend technology and storytelling to rebuild Paramount’s legacy.