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.

Paramount’s three-headed leadership structure will reportedly get shelved once the $8 billion merger with Skydance Media goes through — with two of the co-CEOs likely getting pushed out. David Ellison,

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,

David Ellison plans major changes at Paramount Global, including cuts at TV networks, increased streaming investment, and management overhaul.

Paramount Global is offering $1 million retention bonuses to two top executives -- if they stay with the company through the close of the Skydance Media merger.

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