David Ellison plans sweeping changes at Paramount Global, including cuts at the company’s TV networks, billions of dollars more for streaming and an overhaul of top management, according to people familiar with his plans.

The Paramount co-CEO threesome of Chris McCarthy, George Cheeks and Brian Robbins is apt to look quite different once the Skydance-Paramount merger goes.

Paramount Global under Skydance Media is exploring combining all of Paramount's TV networks, including CBS and MTV, into one unit and consolidating teams across departments including programming and marketing,