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Control of Paramount, the legendary but troubled TV and movie maker, shifted to Silicon Valley scion David Ellison on Thursday, following a protracted and politically tainted merger process.

The transition was full of symbolism: The Redstone family, which built the company into a cable-era giant that lagged in the streaming era, handed off to the son of billionaire Oracle founder Larry Ellison.

David Ellison, who headed the much smaller media company Skydance and is now CEO of the combined company, used the word “tech” ten times in an introductory letter Thursday morning.

He pledged to invest in Paramount’s streaming businesses and upgrade the company’

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