Paramount’s CEO, Bob Bakish, had a candid conversation with CNBC’s David Faber on September 6, 2023.
During a move reminiscent of a high-stakes drama like HBO’s ”Succession,” Paramount Global is set to replace CEO Bob Bakish with a team of current division heads in a strategic maneuver to fast-track the company’s future trajectory.
The news of Bakish’s impending departure is expected to be announced by Paramount before their earnings report, scheduled after the markets close, as per sources familiar with the situation.
This leadership shakeup comes at a crucial juncture for Paramount Global as they finalize a merger deal with Skydance Media. Bakish’s exit raises uncertainties about Paramount’s standalone future, potentially paving the way for a smoother merger process.
Several major shareholders, including Gamco Investors, Ariel Investments, Matrix, and Aspen Sky Trust, have voiced concerns about the merger, claiming it may not be in the best interest of common shareholders. The…
2024-04-29 08:40:37
Originally published on www.cnbc.com