Ellison is set to serve as the future chairman and CEO of the Paramount studio. Former Paramount Pictures head Sherry Lansing is proposed to sit as an independent director, while Oracle Corp CEO Safra A. Catz, whose company is aligned with former CEO Larry Ellison, father of David Ellison, is also tapped for the new boardroom.

"The new Board comprises a preeminent group of leaders from across the media, technology, and finance sectors, bringing unmatched expertise and invaluable perspective on the complex intersection of geopolitics,