David Ellison, founder and CEO of Skydance Media and son of Oracle co-founder Larry Ellison, is set to take the reins of Paramount Global following the completion of his $8 billion acquisition. As the incoming head of the global entertainment, news, and sports conglomerate, Ellison is expected to make sweeping changes—particularly at Australia’s Network Ten, which continues to struggle under mounting ratings pressure and internal missteps.Industry insiders suggest that Network Ten’s future is uncertain, with speculation mounting that Ellison may either divest or shutter the underperforming Australian broadcaster.

A leadership overhaul is also on the table, with the current management team—led by CEO Beverley McGarvey (Seen below) facing criticism following the failure of the network’s latest flagship news initiative.

The program, 10 News+, was launched with a reported $15 million budget and aimed to extend Ten’s news coverage into the competitive 6:00 p.m. timeslot.

However, the show failed to gain traction with viewers, suffering steep ratings declines from its debut. By the end of its first week, it had fallen out of the top 20 most-watched programs and was being outperformed by SBS World News and even regional bulletins like WIN News, which do not air in metropolitan markets.

The extended news format was championed by McGarvey and executive producer Dan Sutton, a former radio host with limited television experience. Anchors Denham Hitchcock and Amelia Brace (Seen below) both recent recruits from Seven—had publicly touted the show’s ambition to “break the rules” of traditional news broadcasting. But the gamble backfired, with critics pointing to a lack of editorial focus and a perceived overemphasis on progressive social issues at the expense of hard news.

 

Martin White, Ten’s head of news, was reportedly given little time to shape the new format. His existing 5:00 p.m. bulletin already trails competitors Seven, Nine, and the ABC in ratings.

Ellison, whose Skydance studio has produced major hits like Top Gun: Maverick and the Mission: Impossible franchise, is known for his pragmatic approach to media investment. He has expressed skepticism about the long-term viability of traditional TV news, citing high production costs and declining viewership in the age of social media.

His views are informed by Paramount’s ownership of CBS and 60 Minutes, both of which have faced criticism from conservative audiences for perceived political bias.

Ellison has reportedly advocated for a shift toward “truth-based” journalism and is expected to push for leaner operations, including potential layoffs and budget cuts across the global news division.

The Paramount-Skydance merger recently cleared a major obstacle after settling a defamation lawsuit filed by former U.S. President Donald Trump. The suit, tied to a controversial 60 Minutes interview with Vice President Kamala Harris, had stalled regulatory approval from the Federal Communications Commission (FCC), which launched an investigation into CBS’s compliance with public interest standards.

According to reports, the settlement—valued at approximately A$25 million and including commitments to air pro-Trump public service announcements—helped pave the way for the FCC to greenlight the deal. Once finalized, Paramount’s controlling shareholder Shari Redstone is expected to receive a $2 billion payout, a fraction of the estimated $40 billion valuation of her inherited media empire.

What’s Next for Network Ten?

With Ellison’s takeover imminent, Network Ten’s editorial direction and political alignment may come under renewed scrutiny. The network has long been viewed as sympathetic to Australia’s Labor Party, a stance that may not sit well with new U.S.-based leadership. Sources suggest that a reassessment of Ten’s strategic value is already underway, with its future hinging on whether it can align with Ellison’s broader vision for a streamlined, commercially viable global media operation.