Paramount has set the base salaries for its new C-suite on the heels of Skydance closing its $8 billion acquisition of the media giant.

Ellison spoke with CBS journalists on his first day, acknowledging the stresses of the past year and touting the importance of “fact-based journalism,” a person in attendance said.

The executives who will lead the entertainment company will receive salaries of $3.5 million, as well as annual bonuses and stock.