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Ben Affleck recently praised the anticipated Skydance acquisition of Paramount, highlighting David Ellison’s role as a crucial “owner” figure, not part of the typical corporate “management class.” Speaking at CNBC’s Delivering Alpha Summit with Gerry Cardinale, his co-founder of Artists Equity and a supporter of the acquisition, Affleck expressed hope for Ellison’s leadership to renew Paramount’s focus on creative storytelling. He pointed out that Ellison, unlike most corporate managers, is deeply invested in the studio’s artistic goals rather than purely short-term gains. “Hollywood needs more robust entities like Paramount,” Affleck explained, emphasizing that consolidation has threatened creative diversity within the industry, which thrives on competition and creative risk-taking.
The Skydance-Paramount merger, valued at approximately $8 billion, will see Ellison and his team managing a studio that includes a broad range of assets, from CBS to MTV. This transition is expected to introduce contemporary technology and leadership that could benefit both the studio and its creative partners. The deal is backed by RedBird Capital and major investors, with Ellison set to take on the role of CEO when it closes, likely in early 2025. RedBird’s support for Artists Equity reflects the firm’s broader investment in industry-shifting creative endeavors, with Cardinale revealing that Artists Equity has already generated over $700 million across its projects.
Affleck also addressed the increasingly pivotal role of artificial intelligence (AI) in Hollywood. While acknowledging AI’s potential to streamline certain processes, he stressed its limitations in replacing human creativity. AI may assist with time-consuming tasks and lower costs in certain areas, like visual effects, but Affleck was firm in his belief that true artistic expression—like the dynamic interplay between actors in a scene—is something AI cannot replicate. “AI can write imitative verse, but it cannot write Shakespeare,” Affleck noted, emphasizing that AI’s role in film production should remain complementary rather than transformative.
The Paramount acquisition stands as a hopeful example of how investors with creative and industry expertise, rather than traditional corporate managers, can drive Hollywood’s future. As Affleck put it, Hollywood must work harder to maintain quality and originality in an era of digital saturation, where streaming platforms and online content challenge traditional studios to evolve or be overshadowed.
