“We’re in the business of long term value creation,” David Ellison proclaimed today as the stock of his newly minted Paramount , A Skydance Company leaped double digits in the first week of his reign. As the majority shareholder in the new Paramount, with strong support from Red Bird, Ellison went on to say his plan was not to center on “any one day, we’re looking long term.”

A week ago, a jargon sprouting Ellison seemed less like a mogul in the making and more like the GUY who just got handed the keys to his new Paramount ride and was more eager to take it out for a spin that engage in strategy. Now with a couple of well executed jabs and wins under his belt, the Skydance founder, and his seasoned crew seem more like the masters of the Hollywood octagon.

Still, after a $16 million p

See Full Page