Paramount to Boost Film Releases With ‘Top Gun 3’ a Priority

Here is a 177 word summary of the news article: Paramount Skydance Corp., a media company controlled by David Ellison, plans to increase its film and TV production. Ellison, the CEO, stated that a third installment of the "Top Gun" franchise is a top priority. The article notes that Paramount has struggled in recent years, losing market share to streaming services. However, Ellison believes there is still strong demand for theatrical releases, especially for well-known franchises like "Top Gun." While specific details about "Top Gun 3" were not provided, the article suggests Paramount will focus on ramping up its production pipeline to better compete in the evolving media landscape. This could include leveraging Paramount's library of intellectual property as well as developing new original content. The move comes as Paramount and other traditional Hollywood studios face increasing pressure from streaming giants like Netflix, Amazon, and Disney+. Ellison's comments indicate Paramount aims to be more aggressive in its content strategy going forward.