Less than a month into tech scion David Ellison’s ownership of Paramount, the company has shelled out large sums to secure sports media rights, keep iconic cartoons and lure filmmakers away from competitors.

Paramount’s renewed spending spree has given hope to Hollywood’s creatives, who have weathered the industry’s recent downturns, consolidation and the company’s own stingy ways.

But analysts question how long that spending will last — and whether it will be enough to turn the studio around.

Shortly after taking over Paramount, new Chief Executive David Ellison threw down the gauntlet — he wanted his studio to be the top destination for the most talented filmmakers and artists in the business.

It wasn’t just words.

Already, Ellison has made a $7.7-billion deal for UFC media rights

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