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David Ellison is making good on his promises.

A little more than a month into his tenure as the CEO and chairman of the newly merged Paramount Skydance , Ellison has moved quickly to sign creative and C-suite talent, greenlight new franchises, and strike a billion-dollar deal for the rights to bring a lucrative sport to the company's streaming service.

Ellison laid out the strategy in an open letter published in early August, when he told investors that Paramount would invest in "high-quality storytelling and cutting-edge technology" to help "define the next era of entertainment."

That next era could also include the acquisition of Warner Bros. Discovery . On Thursday, CNBC reported that

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