Paramount Global ousts CEO Bob Bakish, replaces him with trio of execs as it eyes Skydance merger [Yahoo! Finance]
Paramount Global - Class A (PARAA)
Company Research
Source: Yahoo! Finance
Bakish, who had run Paramount since 2019, will be replaced by a three-headed “Office of the CEO” –consisting of George Cheeks, President and CEO of CBS; Chris McCarthy, President and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, President and CEO of Paramount Pictures and Nickelodeon, the company said. “I have tremendous confidence in George, Chris and Brian,” Paramount board chair Shari Redstone said in a written statement after cutting ties with Bakish, long viewed as her right hand. “They have both the ability to develop and execute on a new strategic plan and to work together as true partners.” The announcement came shorty before the debt-saddled company announced its quarterly earnings after the bell. As expected, Bakish did not lead the earnings call, which kicked off at 4:30p ET and abruptly ended 10 minutes later. The media conglomerate — home to CBS, MTV, BET, Hollywood studio Paramount Pictures and the Paramount+ streamin
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PARAA
Earnings
- 4/29/24 - Beat
PARAA
Sec Filings
- 5/10/24 - Form 4
- 5/10/24 - Form 4
- 5/10/24 - Form 4
- PARAA's page on the SEC website