At a press event in Los Angeles, new Paramount CEO David Ellison said, “One of our biggest priorities is restoring Paramount as the No. 1 studio for filmmakers and talent in the world. Great filmmakers make great movies.

To that end, Paramount is outright rejecting the streaming approach of some of its competition, instead opting to embrace the theatrical experience in a major way. That, surely, will be music to the ears of moviegoers – and Tom Cruise – who consider the cinema to be hallowed ground in uncertain times.

David Ellison, chief executive officer of Paramount Skydance Corp., said he plans to boost film and TV production at the media company he acquired control of last week.