Former Viacom executive Doug Herzog, who played a pivotal role in the rise of MTV and Comedy Central, believes the newly merged Paramount–Skydance will look radically different in just two years. Speaking on the TV of Tomorrow podcast, Herzog said the studio’s survival will depend on a willingness to “blow it up and take some chances.”
A New Era Under David Ellison
The $8.4 billion merger officially closed earlier this month, installing David Ellison — son of Oracle billionaire Larry Ellison — as Paramount CEO. Herzog emphasized Ellison’s unique mix of tech-world positioning and content experience, having run Skydance successfully for years.
With Paramount’s traditional dual-revenue model of cable distribution + advertising collapsing due to cord-cutting, Herzog said legacy strategies are no longer viable:
“The strength of [Paramount] was in the cable networks. It’s all done. It’s done. So, you need a different idea.”
Cable Strategy in Flux
Despite speculation about Paramount selling off its cable assets, the new leadership insists networks like BET will remain part of the portfolio — though many will be “redefined” rather than spun off, unlike Comcast and Warner Bros. Discovery’s moves.
Herzog suggested that embracing streaming innovation and tech-driven strategies will be critical for survival, as Paramount continues to chase Netflix’s scale.
The South Park Legacy
The podcast also revisited Herzog’s pivotal role in bringing South Park to Comedy Central in the late 1990s. At the time, the network was only three years old and in 40 million homes, but Trey Parker and Matt Stone’s outrageous animated series became its first breakout hit.
Herzog admitted he initially feared the show might be too risky:
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“I remember waking up in a cold sweat a week before we debuted and thinking, can I go to jail for this?”
But thanks to the unusual Viacom–Time Warner joint venture overseeing Comedy Central, Herzog had the creative freedom to push it through.
“Ultimately, South Park became the house on which Comedy Central was built. … They’re still going strong, still making trouble, still pissing off everybody. They deserve every penny they get. They’re absolute geniuses.”
The Road Ahead for Paramount
Herzog’s bottom line: by 2026, Paramount will look nothing like it does today. Whether through streaming-first strategies, aggressive restructuring, or leveraging Ellison’s tech pedigree, the media giant must evolve quickly. In Herzog’s words:
“Survival is not mandatory.”
